Alphabet Inc (GOOGL) Rating Reiterated by MKM Partners

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Advertising revenues contributed $21.4 billion, up from $18 billion a year ago.

"Our excellent results represent a terrific start to 2017, with revenues up 22 per cent versus the first quarter of 2016 and 24 per cent on a constant currency basis".

Alphabet's chief financial officer Ruth Porat said during the earnings call that "YouTube revenues continue to grow at a significant rate", dispelling concerns about the possible impact of an advertiser boycott of the video service.

Google's net revenue stood at around $20.12 billion, up by 22% from the same period previous year excluding the company's expenses in acquisitions on partner websites that carry their advertisements worth at around $4.63 billion but nonetheless beating estimates.

The Other Bets category includes Waymo, Google Fiber, Nests, Verily Life Sciences, Calico and other businesses and moonshot projects.

Penguins star Crosby returns to practice after concussion
Crosby had no issue with his run-in with Ovechkin, calling it "standard" practice when you skate in front of the opponent's net. Marc-Andre Fleury has also played brilliantly in what might be his last postseason run with the Penguins.

The stronger-than-expected results helped lift Alphabet shares more than four percent in after-hours trade on Wall Street. Alphabet said it changed its methodology for paid clicks and cost per click, resulting in a "modest increase in paid clicks and a modest decrease in cost-per-click". In response to criticism from both users and advertising customers, Google will be altering its YouTube advertising policies to give advertisers more control over where their ads are placed. The company is also investing more in machine learning, AI research and deep neural networks, in the hope to make all of Google's products that much better.

Google has long trailed Inc and Microsoft Corp in the burgeoning market for cloud computing.

Indian American Sundar Pichai, the CEO of Google, got almost $199.7 million in compensation in 2016, double the amount he made in 2015, according to a filing Friday from Google's parent company, Alphabet. The company also posted adjusted profit of $7.73 per share; analysts expected $7.41. Its Other Bets posted operating losses of $855 million.

Pichai's massive pay package came even as his two bosses and Google co-founders Larry Page and Sergey Brin, once again drew salaries of only $1 for their roles as CEO and President, respectively, of parent company Alphabet. We have streamlined efforts where it made sense and in other areas we have seen places to double down.