Google Revenues Up 19 Per Cent, Nest Acquisition Keeps Profit Static

Nest Protect Connected AlarmGoogle has reported Q1 revenues of $15.4bn (£9.2bn), a year-on-year increase of 19 per cent. 9.9 per cent of this – a whopping $13.9bn – came from advertising revenues, with just $1.6bn coming from all of its various other operations.

While Google reported net profits of $3.5bn, this was a disproportionately small increase of just 3.1 per cent year-on-year. This can mostly be attributed to the one-time cost of acquiring smart home company Nest in January for $3.2bn, Googles biggest acquisition since Motorola in 2011.

Speaking of Motorola, these are the final quarterly results where the company – which was sold to Lenovo in January – will appear on Googles balance sheet, as a net loss of $198m from discontinued operations.