Alphabet’s ‘Other Bets’ See Revenues Rise, Losses Lower in Q1

Other Bets unit includes Google Fiber
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Other Bets, the unit of Alphabet that includes Google Fiber and Nest, turned in improved financials in Q2 amid rising revenues and shrinking losses.

Other Bets pulled down revenues of $248 million, up from $185 million a year ago, along with an operating loss of $772 million, improving on a year-ago loss of $855 million.

Speaking on an earnings call Monday, Alphabet CFO Ruth Porat said Other Bets revenues were driven primarily by Nest, Google Fiber and Verily.

Other Bets accrued capex was $152 million, primarily reflecting a reduced investment in Google Fiber due to the pause in expansion that the company announced in the third quarter of 2016, she noted.

For the full story go to Multichannel.com.

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