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Apr 27, 2017

Alphabet revenue rises on surge in mobile advertising, YouTube popularity

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Google parent Alphabet Inc (GOOGL.O) reported a 22.2-per-cent rise in quarterly revenue, driven by a surge in advertising on mobiles and its popular YouTube video service.

Alphabet's net income rose to US$5.43 billion, or US$7.73 per Class A and B share and Class C capital stock, in the first quarter ended March 31 from US$4.21 billion, or US$6.02 per share, a year earlier. 

The company's consolidated revenue rose to US$24.75 billion from US$20.26 billion.

Google is locked in a battle with social media giant Facebook Inc (FB.O) in the fast-growing mobile advertising market.