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