About this weblog

What you need to know: This weblog captures key data points about the global telecoms industry. I use it as an electronic notebook to support my work for Pringle Media.

Wednesday, July 28, 2021

Alphabet Reports Blow-out Quarter

Boosted by a "rising tide of online consumer and business activity", Alphabet reported a 57% year-on-year rise in revenues at constant currencies to 61.9 billion US dollars for the second quarter of 2021. Google search and other advertising revenues were up 68% (with currency movements) to 35.8 billion dollars. YouTube advertising revenues of 7 billion dollars, were up 84%.

Alphabet reported that its experimental self-driving vehicle unit Waymo continues to grow. "People love the fully autonomous ride hailing service in Phoenix," Sundar Pichai, CEO Alphabet and Google, said. "Since first launching its services to the public in October 2020, Waymo has safely served tens of thousands of rides without a human driver in the vehicle, and we look forward to many more."

In response to analyst questions, Pichai added: "We've had very good experience by scaling up rides. These are driverless rides and no one is in the car other than the passengers. And people have had a very positive experience overall. We're obviously – with a strong focus on safety, we're looking to scale it up. Through it all, we are building newer capabilities as well, investing in next generation of hardware and software. So it's an iterative process, and at each step it's very clear to us that we are ahead and we are making progress. And you'll see us continue to invest here with a focus on safety first. And I expect us to scale up more through the course of 2022." Source: Transcript of Alphabet earnings call

No comments: