Google's new parent company, Alphabet, provided some new financial detail about its "Other Bets," those so-called moonshot projects and bets that include self-driving cars and Google Fiber. They are, as expected, losing money.
For calendar year 2015, those Other Bets lost $3.56 billion, with revenues of $448 million, compared to a loss of $1.94 billion and revenues of $327 million in 2014.
The separation of those results come about four months after Google reorganized under its new holding company, Alphabet. Alphabet now reports two segments – Google and Other Bets. Google includes its primary Internet products, including search, advertising, maps, YouTube, apps, cloud, Google Play, Android, and devices like the Chromecast, Chromebook and Nexus. Other Bets includes Google Fiber/access, Nest, Calico, Verily (formerly Google Life Sciences), GV (formerly Google Ventures) and Google Capital X.
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