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Alphabet paid Google CEO Sundar Pichai $200M in 2016
October 19 2017, 11:46 | Alonzo Simpson
As per the latest reports, he increased his compensation by nearly 2 times from the year 2015 in the year 2016.
And the revenue increases were not driven by sales of Pixel smartphones, cloud or any of the other technologies the company likes to show off, but of online advertising.
The company's approach to the market is to be one Google, Pichai said.
Google parent company Alphabet saw sharesrise after beating analyst expectations for its first quarter earnings report. They expected the company to deliver earnings of $7.39 per share on $24.22 billion based data compiled by Thomson Reuters. Google site revenues were $17.4 billion (up 21 percent), and network revenues were $4 billion (up 9 percent). "Hardware sales continue to be strong", says CEO Sundar Pichai during the call, hinting that revenue from hardware did contribute quite a bit to the jump in revenue.
Shares were up 4 percent in after-hours trading; shares are up more than 20 percent in the past year.
Google's revenues from hardware and cloud services which is categorised under "other revenues" stood at Dollars 3.1 billion in the last quarter which is nearly double when compared to the same period, the previous year. Facebook and Google had accounted for 99 percent of the industry growth in digital advertising in 2016. The company delivered $24.75 billion in revenue. Other bets includes Waymo, a self-driving auto division, and Verily life sciences division.
GAAP income from the quarter was reported at $5.4 billion, or $7.85 per share, up from the $4.2 billion, or $6.12 per share, the company reported for the same period of past year. "We will continue to invest here for the long-term opportunity", said Porat, on an analyst conference call last night.
Alphabet CEO Larry Page released a letter last night defending the two-year-old Alphabet structure, which he said had achieved its objective of giving investors greater visibility into Google's performance while empowering entrepreneurs in other parts of the company.
Diane Greene, now senior vice president for Google's cloud operations, earned total compensation of $43.7 million previous year, most of it via two stock awards totaling $42.8 million.