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Despite quarterly loss, Google’s owner records record revenue in 2017

Alphabet, the company that controls Google, posted a loss during the last quarter of 2017, but also posted record revenue throughout the year.

In the final months of last year, the company recorded $ 3 billion in losses. The damage was attributed to the United States tax reform, which increased the tax burden by more than $ 10 billion over the period.

Quarterly revenue was $ 32.3 billion, representing growth of 24 percent over the same period in 2016. Google, as usual, accounted for almost all of this value: $ 31.9 billion revenues came from the company’s services.

Alphabet’s “other bets,” such as the Google Fiber network and Waymo’s stand-alone cars, earned $ 409 million in revenue but reported $ 916 million in loss.

Throughout 2017, Alphabet had a record revenue of $ 110.8 billion, with a profit of $ 12.6 billion.

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