Other Bets included the broadband business Google Fiber, home automation products Nest, self-driving technology company Waymo as well as X, the company's research facility that works on "moon shot" ventures.
The company received 96% of all search-ad clicks on mobile devices in the quarter, according to estimates from digital-marketing firm Merkle Inc. "We see tremendous potential ahead for these businesses, as well as in the continued development of non-advertising revenue streams for YouTube", Porat said on a call with investors.
Revenues were up 22% year-over-year and 16% quarter-over-quarter.
In addition to the search engine operations, Alphabet (GOOGL) also includes businesses known as the "Other Bets". Since the majority of Alphabet, and Google's revenues are still driven by advertisements, any increase in this segment was bound to affect the complete picture.
Advertising, a crucial part of the Google business, reported a revenue increase of 17% in the quarter on the same period past year and other revenue within Google was up 62%.
The advertising, which forms the major part of the GOOGL's revenue grew 17.4 percent to $22.4 billion in the fourth quarter.
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Also, LinkedIn, which was recently acquired by Microsoft, accounted for $228 million in revenue and a net loss of $100 million for the quarter.
"From a capital allocation standpoint, we appreciate Alphabet is investing in strategic, promising areas like Google Assistant and hardware, while pausing investment in less rewarding areas like Fiber", Jefferies analysts said.
During the period, revenues were up 22% year-over-year, and 24% on a constant currency basis. However, monetization strategies for these offerings are still being figured out, and Google charges less for YouTube ads than those served through its core search platform, again contributing to the disparity between ubiquity and revenue.
There are reasons for Street's strong conviction on Alphabet's prospects as the company has delivered 28 straight quarters (seven years) of 20 percent-ish organic revenue growth.
Google now has $86 billion on hand in cash and cash equivalents including marketable securities. Aggregate cost per click fell 15% year over year.
Mobile ads fetch lower costs-per-click than desktop ads, and Google's cost-per-click has been falling for several quarters. The Times reported that clicks on Google's ads "are growing faster on its own websites like YouTube" which Google said "more than a billion people watch every month, viewing hundreds of millions of hours of its videos every day".