Advertising will always be our biggest driver: Eric Schmidt

Advertising will always be the biggest revenue driver for Alphabet despite projects ranging from driverless cars to artificial intelligence, Eric Schmidt, the executive chairman of Google’s parent company, said on Tuesday. Revenues from advertising rose 16 percent year-on-year in the first three months of 2016 to $18 billion and make up a vast majority of Alphabet’s overall revenues. But the company has faced stiff competition from the likes of Facebook with its big push in video. And it has also been looking to diversify the company into new areas such as driverless cars and even virtual reality. Nonetheless, the majority of revenue from Alphabet is likely to still be generated from advertising in the future. “It’s always been advertising and I suspect it will always be advertising because advertising is…

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