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Alphabet Spells P-R-O-F-I-T - Twice

Alphabet Spells P-R-O-F-I-T

Ads on Android, Google, YouTube drive revenue; Daydream VR push coming
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Google Daydream VR

Alphabet's revenue continues its upward streak as the Android, Google and YouTube parent saw second-quarter earnings growth of 21 percent year over year.

The company's advertising business drove total revenue to $26 billion, with operating income of $4.1 billion, up almost 15 percent for the quarter. The profit number would have been even higher if not for a $2.7 billion fine from EU regulators.

Almost 90 percent of Alphabet’s revenue came from advertising.

Hardware and other businesses grew around 50 percent on a year-over-year basis in the quarter to just over $3 billion.

CEO Sundar Pinchar laid out the company's near future hardware plans on an analysts call, reporting an emphasis on boosting Google's Daydream virtual reality platform. Pinchar said the company will deliver support for Daydream VR on 11 Android devices by the end of the year. Without getting specific, he added the lineup will include the newest Pixel smartphones coming this fall.

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