Google's Parent Company Is Losing Even More Money On Moonshots


Google's parent company more than doubled the revenue it generated from its moonshots like its smarthome company Nest, broadband provider Google Fiber, and life sciences division Verily. Unfortunately, Alphabet is also losing more money on those bets. In its second quarter earnings report today, Alphabet said revenue from its so-called "other bets" rose from 80 million last year to 188 million for the same quarter this year. But overall losses devoured that growth and then some, mounting to 802 million from 633 million during the same time last year. That's just one piece of bad news for Alphabet, which missed analyst expectations, sending shares tumbling nearly six percent in afte- hours trading despite 17 percent revenue growth year-over-yeas.