> In January 2023, we completed an assessment of the useful lives of our servers and network equipment and
adjusted the estimated useful life of our servers from four years to six years and the estimated useful life of certain
network equipment from five years to six years. This change in accounting estimate was effective beginning in fiscal
year 2023, and the effect was a reduction in depreciation expense of $966 million and $2.0 billion and an increase
in net income of $752 million and $1.5 billion<p>Interesting accounting magic
Ads is still growing and very profitable, YouTube is back to growing, GCP profitable for two quarters in a row, and lower losses on other bets.<p>Google is still Google.
Interesting news about Ruth Porat transitioning to President and Chief Investment Officer of Alphabet:<p>> Alphabet and Google CFO Ruth Porat will assume the newly created role of President and Chief Investment Officer of Alphabet and Google, effective September 1, 2023. Ruth will continue to serve as CFO, including leading the company’s 2024 and long-range capital planning processes, while the company searches for and selects her successor.<p>> In her new role, Ruth will continue to report to Sundar Pichai, Alphabet and Google CEO.
> Ruth assumed the role of CFO in May 2015 and is the company’s longest-serving CFO.<p>> In her new role, Ruth will be responsible for Alphabet’s investments in its Other Bets portfolio, working closely with Sundar, and the company’s investments in countries and communities around the world. Alphabet’s investments span numerous sectors and are engines of economic growth globally. She will also focus on engagement with policymakers and regulators regarding employment, economic opportunity, competitiveness, and infrastructure expansion.<p>Does this mean cuts a.k.a. "streamlining" incoming for Other Bets? She has been known to be pretty strict about unnecessary spending at Google.
Looks like the money machine is still printing! Anyone done deep analysis on how their "other bets" have been performing over time? It feels like a few things have been cut (e.g. Loon) but I haven't been following closely enough to have a good understanding of the full picture
It's been about 6 months since the Google CEO blogged about how they needed to lay of 12,000 people to brace for the "difficult economic cycle". Meanwhile revenue is up 7% YoY.<p><a href="https://blog.google/inside-google/message-ceo/january-update/" rel="nofollow noreferrer">https://blog.google/inside-google/message-ceo/january-update...</a>
> Google Services includes products and services such as ads, Android, Chrome, hardware, Google Maps,
Google Play, Search, and YouTube. Google Services generates revenues primarily from advertising; sales
of apps and in-app purchases, and hardware; and fees received for subscription-based products such as
YouTube Premium and YouTube TV.<p>Interesting how they bundle chrome, android, and pixel with various web services such as search, yt, maps<p>Kind of odd considering pixel is a completely different kind of product. It does make sense because there's likely synergy between first group and second group, but also it makes me wonder how they calculate the profitability of a product like pixel<p>Also it makes me wonder whether the recent proposal of the chrome integrity API will positively or negatively effect these numbers long term given sufficient backlash
I ran some google ads lately and they were very ineffective. I feel like my money was going down the drain. Perhaps that's what s driving their higher revenue?