Google has faced privacy headwinds along with other web companies. Photo: Joan Cros/NurPhoto via Getty Images

Google parent company, Alphabet, beat earnings expectations for the first quarter of 2018, according to the numbers released Monday.

Why it matters: There's a big question market above Google as it prepares to face unprecedented data privacy regulations in Europe and its own privacy reckoning in the United States.

The details: Alphabet declared earnings-per-share of $13.33, compared to the $9.28 the Wall Street Journal said was expected by analysts. The company said it had more than $31 billion in revenue in the first quarter.

EU business: Chief Executive Sundar Pichai pushed back on the idea that the new European regulations, known as GDPR, could hurt the company's ad targeting business.

  • "First of all, it's important to understand that most of our ad business is search, where we rely on very limited information, essentially what is in the keywords to show a relevant ad or product," he said, while noting that the company plans to update its privacy settings for users as the regulations come into effect in late May.

Other Bets: This quarter, Alphabet moved its Nest division into Google's hardware team, meaning that its financials will now be part of Google's other revenues instead of the Other Bets section.

  • In 2017 Q1, Nest generated $112 million in revenue, $151 million in Q2, $185 million in Q3, and $278 million in Q4, based on the newest earnings reports as compared to last year's.
  • In 2017, Nest sold more devices than in the previous two years combined, said Google CEO Sundar Pichai during the company's earnings call.
  • The majority of Other Bets revenue comes from the Fiber and Verily units, said CFO Ruth Porat.

The story has been updated with more details.

Go deeper

Coronavirus cases rise in 33 states

Data: The COVID Tracking Project, state health departments; Map: Andrew Witherspoon, Sara Wise, Naema Ahmed, Danielle Alberti/Axios

The coronavirus pandemic keeps getting worse, all across the country. Thirty-three states saw their caseloads increase this week, continuing a scary nationwide trend that’s been getting worse since mid-June.

Why it matters: The U.S. is right back in the situation we were afraid of earlier this year, with a rapidly spreading outbreak, strained hospitals, and projections of more than 200,000 deaths by the end of the year.

Updated 7 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 10 p.m. ET: 12,009,301 — Total deaths: 548,799 — Total recoveries — 6,561,969Map.
  2. U.S.: Total confirmed cases as of 10 p.m. ET: 3,053,328 — Total deaths: 132,256 — Total recoveries: 953,420 — Total tested: 37,532,612Map.
  3. Public health: Houston mayor cancels Republican convention over coronavirus concerns Deaths are rising in hotspots — Déjà vu sets in as testing issues rise and PPE dwindles.
  4. Travel: United warns employees it may furlough 45% of U.S. workforce How the pandemic changed mobility habits, by state.
  5. Education: New York City schools will not fully reopen in fallHarvard and MIT sue Trump administration over rule barring foreign students from online classes.
  6. 🎧 Podcast: A misinformation "infodemic" is here.

Transcripts show George Floyd told police "I can't breathe" over 20 times

Photo: Gary Coronado/Los Angeles Times via Getty Images

Newly released transcripts of bodycam footage from the Minneapolis Police Department show that George Floyd told officers he could not breathe more than 20 times in the moments leading up to his death.

Why it matters: Floyd's killing sparked a national wave of Black Lives Matter protests and an ongoing reckoning over systemic racism in the United States. The transcripts "offer one the most thorough and dramatic accounts" before Floyd's death, The New York Times writes.