‘Big bets’ cost Google parent Alphabet $3.6 billion in losses last year

Alphabet, the parent company of Google, racked up $ 3.6 billion in losses last year through investments in “big bets” such as self-driving cars and Internet balloons.

The company was known to be spending heavily on these items but revealed actual figures for the first time Monday when it broke out results separately for its core Google business and for big-bet investments, which it also calls moonshots.

The losses for those items were much higher in 2015 than in 2014, when they totaled $ 1.9 billion. And they brought in just $ 448 million in revenue last year.

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