Alphabet's 2Q Earns Soar Despite Rising 'Moonshot' Losses

Business is booming at Google's parent company, Alphabet Inc., even as it loses billions of dollars on kooky-sounding projects that may never produce any revenue. Huge chunks of the losses have been piling up in Alphabet's "X'' lab, a wellspring of far-out ideas that has become known as a "moonshot factory" since Google co-founder Sergey Brin launched it about six years ago. The lab is responsible for some once-zany projects, such as Google's self-driving cars, that matured into potentially revolutionary technology. It also has pursued but ultimately abandoned other outlandish endeavors...
Read more: http://www.nytimes.com/aponline/2016/07/28/business/ap-us-alphabet-moonshots.html?source=Snapzu