Alphabet reported a 22% year-on-year increase in revenues, on a constant currency basis, for the third quarter of 2017 to 33.7 billion US dollars. That represents a slight slowdown on the 23% increase in the second quarter. Although the number of paid clicks on adverts on Google properties rose 62% in the third quarter year-on-year, the average selling price was down 28%.
Ruth Porat, CFO of Alphabet, said: "We continue to be pleased with the underlying momentum in our advertising businesses as we apply our strengths in machine learning to improve the experience for users and advertisers. As we noted, hardware was only a modest contributor in the third quarter as we launched a new Made by Google family of products for the fourth quarter holiday season."
Other Bets' revenues were 146 million dollars in the quarter, primarily generated by Fiber and Verily. Verily is partnering with pharmaceutical companies "to move medicine from reactive to proactive." Alphabet's self-driving car developer, Waymo, has expanded its early rider programme to include more participants and is now beginning to test pricing models. Source: Alphabet statements