As long as Google’s core businesses keep printing money, Wall Street will be fine with its unorthodox arms losing cash.
Self-driving cars, Fiber and Alphabet’s other non-Google moonshots lost $859 million this past quarter
Both revenue and losses increased a bit.
Justin Sullivan / Getty
The subsidiaries under Alphabet outside of Google — the 10 or so units that include its broadband effort, self-driving car and far-out medical projects — brought in $185 million in sales this past quarter and lost $859 million.
Unless something has changed since last quarter, the only units within these “Other Bets” that earn money are Google Fiber, Nest and Verily (its life sciences unit). On prior earnings calls, Alphabet’s CFO Ruth Porat has typically mentioned the company’s commitment to funding these projects, particularly Fiber and Verily. We will see if she mentions any of the others on today’s call, which starts at 1:30 pm PT.
In the second quarter last year, the “Other Bets” units reported $75 million in revenue, with operating losses of $574 million.
This article originally appeared on Recode.net.
