Google focuses increasingly more attention on Asia where „mobile transformation is a secular shift there”, according to Sundar Pichai, Alphabet Inc. – Director & CEO of Google.
During the Alphabet Third Quarter 2017 Earnings Call, Pichai said that „Our products are very heavily used there. And so we worked hard to build a user base, and then the mobile translation is – mobile transformation is a secular shift there.”
„… we are building products specifically designed for local markets in Asia. In India last month, we launched Tez, a mobile payments and commerce app that already has more than 7.5 million users who have made more than 30 million transactions. I’m really excited about the potential this brings for India’s mostly cash-based economy.”, Pichai said
Google reported a „terrific quarter”. Revenues of $27.8 billion were up 24% year-on-year and also up 24% in constant currency. Performance was strong in all regions. U.S. revenues were $12.9 billion, up 21% year-over-year. EMEA revenues were $9.1 billion, up 23% year-over-year in both reported and fixed FX terms. APAC revenues were $4.2 billion, up 29% versus last year and up 31% in fixed FX terms. Other Americas revenues were $1.5 billion, up 33% year-over-year and up 32% in fixed FX terms.
Google sites revenues were $19.7 billion in the quarter, up 23% year-over-year, led again by mobile search, complemented by desktop search and strong performance from YouTube. Network revenues were $4.3 billion, up 16% year-on-year, reflecting the ongoing momentum of programmatic and AdMob. Other revenues for Google were $3.4 billion, up 40% year-over-year, fueled by Cloud, Play and hardware.
In terms of CapEx and operating cash flow, Google said that Cash CapEx for the quarter was $3.5 billion. Operating cash flow was $9.9 billion with free cash flow of $6.3 billion. „We ended the quarter with cash and marketable securities of $100.1 billion, of which approximately $60.5 billion or 60% is held overseas.”
Source: Yahoo Finance
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
