Published: Wed, May 03, 2017
Finance | By Laverne Griffith

Pichai received almost United States dollars 200 mln compensation previous year

Alphabet reported revenue of $24.75 billion, up 22 per cent versus the first quarter of 2016 and 24 per cent on a constant currency basis.

Google's 44-year-old India-born CEO Sundar Pichai received almost $200 million (Rs 1,341.68 crore approx) in compensation last year, double the amount he got in 2015. Certain advertisers have curtailed their spending until they are convinced Google can prevent their brands from appearing next to extremist clips promoting hate and violence.

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.

The Google business (search, ads, maps, apps, cloud, Play, YouTube, Android, virtual reality, etc.) was responsible for $24.5 billion in revenue this past quarter (up from $20.1 billion last year) and $7.6 billion in profits (up from $6.2 billion last year).

For the first-quarter, Google delivered a jump in their earnings by 28% attributing to the company's shares crossing the 900 level during the after-hours trading.

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The results topped Wall Street expectations. The company's profit grew 29 percent to $5.43 billion in the first quarter of FY 17 from $4.21 billion, a year earlier.

The business, home to the Waymo self-driving vehicle, Google Fiber and thermostat-maker Nest, posted a first-quarter loss 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. Learn more about Google and other internet companies in its group at IBD Stock Checkup.

Google's revenues from hardware and cloud services which is categorised under "other revenues" stood at United States dollars 3.1 billion in the last quarter which is nearly double when compared to the same period, the previous year. However, Google's loss for these ambitious projects ticked up slightly to $855 million.

Google's ad revenue, which accounts for the lion's share of its business, rose 18.8 per cent to United States dollars 21.41 billion in the first quarter.

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