Alphabet Inc witnesses 22% rise in quarterly revenue
Alphabet Inc, parent company of Google witnessed a jump in its consolidated revenue from $20.26 billion to $24.75 billion.
Google parent Alphabet Inc reported a 22.2% rise in quarterly revenue, driven by a surge in advertising on mobiles and its popular YouTube video service.
Alphabet's net income rose to $5.43 billion, or $7.73 per Class A and B share and Class C capital stock, in the first quarter ended March 31 from $4.21 billion, or $6.02 per share, a year earlier. [http://bit.ly/2qbMJGY]
The company's consolidated revenue rose to $24.75 billion from $20.26 billion.
Google is locked in a battle with social media giant Facebook Inc in the fast-growing mobile advertising market.