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Google ad revenues grew 24.5% in Q42017; names John L Hennessy as its new chairman

Alphabet Inc (formerly Google Inc)’s Google parent Alphabet Inc  appointed John L. Hennessy to serve as Chairman of Alphabet’s Board.He fills the position of Eric Schmidt, who stepped down from his position in December 2017. However, he is a non-executive chairman, unlike Schmidt. Hennessy joined Google in 2004 and served as a member of the company's Board since then and then served as Lead Independent Director since April 2007. He is a computer scientist, who has served as Stanford University president previously. A Reuters report says that he was dean of Stanford's engineering school when Google founders, then students, Sergey Brin and Larry Page developed Google, and Hennessy had tested it. Google Q4FY17 Financials Google posted revenues of $110.9 billion for the quarter ended December 31, 2017 (Q4 2017). Of this, advertising revenue accounted for $27.2 billion or 24.5%. And of the total ad revenue, revenues from Google sites contributed $22.2 billion, while revenues from network members’ properties contributed $5 billion. Revenues from ‘Other Bets’ i.e., xyz, stood at $ 409 million. Google’s Traffic Acquisition Cost (TAC) for the quarter stood at $6.4 billion, up 33.3% from 4.8 billion for the corresponding quarter last year. TAC was 24% of Google’s total ad revenue for the quarter, as compared to 22% in Q4 2016. Paid clicks and cost-per-click There was 43% year-on-year (YoY) increase in total paid clicks, and a 18% quarter-on-quarter (QoQ) increase. Paid clicks on Google sites increases 48% YoY and 19% QoQ, while on Google Network Members’s properties paid clicks grew…

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