- Google's parent company Alphabet reported revenue of $17.3 billion for Q4 2015, up 19% — exceeding analysts’ average forecast of $16.9 billion.
- This was the first earnings report to separate Google’s search and advertising business from Alphabet’s “Other Bets,” including healthcare.
- While “Other Bets” has yet to make money for the Silicon Valley firm, analysts are optimistic some of the projects eventually will.
While Google’s Internet and ad business propelled Alphabet to surpass Apple as the world’s most valuable company, its “Other Bets” category had an operating loss of $3.57 billion for 2015.
Revenue totaling $448 million derived mainly from the Nest smart thermostat, Fiber fast-Internet access and health technology, according to Bloomberg Business.
In announcing the restructuring last summer, Google CEO Larry Page specifically cited Google’s Life Sciences unit and its biotech company, Calico, as firms that were far afield of its core Internet business.
Some of the health-related “moonshots” Alphabet is working on are a wearable device that can target cancer cells and a pill to detect cancer and other diseases, both by sending magnetic nanoparticles into the bloodstream. Other endeavors involve interventions to slow the aging process and a glucose-monitoring contact lens.