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Alphabet released this afternoon a net profit of $ 6.6 billion for the first quarter of 2019, for a business turnover of $ 36.33 billion. The stock is down more than 7% after office hours after a loss of income. During the earnings conference, Ruth Porat, Chief Financial Officer of Alphabet, saw a similar drop in Pixel sales. Google has also confirmed the May 7 material announcement for I / O 2019.
According to the CFO, "the material results reflect a decline in pixel sales from one year to the next, partly reflecting an intense promotional activity across the entire industry, due to some of the pressures recent developments in the high-end smartphone market ".
Google does not divide hardware results into revenue, but groups them into the "Other Revenue" category, which also includes Play Store and Cloud. For the first quarter of 2019, it reported $ 5.4 billion, compared to $ 4.3 billion in the same quarter last year.
In terms of hardware results, while the first quarter results reflect pressure from the high-end smartphone sector, we are pleased with the momentum for Assistant-enabled home devices, particularly Home Hubs and devices. Mini, and we look forward to our May 7th announcement. / O of the equipment team.
The decline in the premium smartphone market comes as Google has released a pixel 3a and a mid-range Pixel 3a XL.
Porat was optimistic about the Google Home and Assistant smart devices. The often-released Home Hub and Home Mini offers have been touted as best-sellers, with the CFO confirming that the May 7 announcement would take place at I / O. The Google Store teaser earlier this month was only providing that a date that coincided with the day 1 of the I / O 2019, but did not determine whether the announcement had taken place on stage.
Subsequently, Sundar Pichai stressed that "demand for our family of Google Home products remains strong". He explained that the company "would continue to develop this incredible range" of Pixel, Nest and Home. "
"We are still at the beginning of our material adventure. And when I look at the wallet we created for Pixel, Home and Nest, I'm really happy with the range of products we have. "
Given this repeated mention of Home and Nest, it is likely that the Nest Hub Max who fled and has been renamed Google Nest Hub can appear alongside the Pixel 3a and Pixel 3a XL.
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