It's no secret that the tech industry continues to grow at a breakneck pace, especially in a world where many of us spent nearly eighteen months cooped up at home for both work and recreation. Google and its parent company Alphabet have seen wild financial success over the last year, and this quarter is no different. After breaking records in Q1 2021, Google has returned to do it all over again in Q2.
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It's good to be the Goog, at least if what you want is to make incredible amounts of money. Continuing its trend as the pandemic rolls on, Google and its parent company Alphabet are absolutely coining it. Revenue for the first quarter of 2021 was 55.314 billion US dollars, an increase of an astonishing 34% over last year.
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It's a big day for Google, and not just because the Pixel 5 is now available and the Pixel 4a 5G is up for pre-order. In fact, today's success probably has nothing to do with Pixels at all. Google parent company Alphabet just reported its third-quarter financial results, and numbers are looking good. So good, stocks are up 11% today.
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Following T-Mobile and Sprint finally agreeing on a merger, the 'un-carrier' has released its earnings report for the first quarter of 2018. T-Mobile has been reporting consistent growth for years at this point, so it should come as no surprise that the carrier gained 1.4 million subscribers in Q1. This marks the 20th quarter in a row that T-Mobile reported a net growth of over one million customers.
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Alphabet, every AP reader's favorite umbrella corporation for their favorite company, has posted the results of their first 2017 quarter's earnings. Things are looking pretty good, too. Revenue and income are both up from the same period last year, even though Alphabet's tax rates have increased.
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LG's mobile business has regularly been on the knife's edge of profitability over the years, and after last year's lackluster G4, the company likely hoped the more adventurous G5 would help pay the smartphone arm's bills and, perhaps, even deliver a profit to the unit. Unfortunately, according to LG's Q2 2016 fiscal results released today, that effort has not paid off.
LG Mobile reported an operating loss of $132 million for the second quarter, the first full fiscal quarter the G5 was on sale in major markets (it launched April 1st here in the US). This is especially dismal given that it marks only a very modest improvement over LG's Q1 results for its mobile unit, which saw losses of around $168 million.
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