Despite missing on earnings per share, Google’s parent company Alphabet delivered solid but more or less expected results for the third quarter of 2019 on Monday. The company posted $40.5 billion in revenue and net income of $7.1 billion for the three months ending September 30. While Google's core business continues to be highly profitable, the company’s more speculative side activities (including the famous moonshot projects) continue to weigh on its bottom line.
As our chart illustrates, Alphabet continues to lose money on its ‘Other Bets’ and not everybody is happy about it. Some investors fear that the company is effectively burning cash as many of the projects have led to little more than some flashy headlines so far.
Alphabet's 'Other Bets' Are a Costly Hobby
Alphabet
