Google-parent Alphabet Inc. is translating well to mobile.
The company’s net income shot up 24 percent to $4.88 billion as revenues rose 21 percent to $21.5 billion for the second quarter ended June 30.
Google’s ad revenues made up the lion’s share of Alphabet’s top line, rising 19 percent to $19.14 billion.
Ruth Porat, Alphabet’s chief financial officer, attributed the growth to “successful investments we’ve made over many years in rapidly expanding areas such as mobile and video.”
Google and competitor Facebook are grabbing bigger and bigger slices of the advertising pie. (Facebook reported second-quarter results Wednesday and showed a 59 percent top-line gain, with revenues of $6.44 billion.)
Both of the tech giants are well positioned to continue to do so as more of the market goes mobile, a trend that was most recently embodied by word from Apple Inc. chief executive officer Tim Cook that the company sold its one billionth iPhone this week.
But Google ceo Sundar Pichai had some bragging to do on a call with Wall Street analysts.
“We are extraordinarily well positioned to take advantage of the mobile shift, and we are already seeing strong growth in three key areas of our advertising business, mobile search, video and programmatic,” Pichai said. “All of the momentum you’re seeing is because our products are doing well in mobile and our customers are great interest from that.”
Accordingly, Google is hyperfocused on improving the mobile experience.
“We know that people are constantly searching for things with commercial intent and are used to swiping and tapping. Our data shows that people respond really well to that as we show. They are fresh, fast, and useful,” Pichai said.