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00:00I'm SCARLET FU This is Bloomberg Markets. Google has spent years telling Wall Street that its investments in non advertising businesses will eventually pay off. Well last quarter Google's parent Alphabet posted results which suggests that starting to happen we can check out alphabet in today's The numbers don't lie. So let's start with the money maker Google . It is still going strong. But if you look at the other part of its business where sales jumped 33 percent to two point two billion dollars a record in the second quarter. Growth in cloud computing and corporate software really drove those gains and the cloud is part of alphabets efforts to diversify advertising which is the white line here at the very top remains the company's main revenue driver. It was responsible for more than 19 billion of the overall twenty one and a half billion dollars in the second quarter. When it comes to revenue mobile ad sales and YouTube are alphabet stalwarts youtube and google search and there again is the white line at the top bringing the most monthly mobile users in the U.S. nearly one hundred eighty two million. This helps Google keep pace with Facebook which is the blue line right below the white line and together Google and Facebook account for over half of the mobile advertising market . YouTube has a commanding lead in online video watch time . Even with Snapchat and Facebook rapid growth in daily video views. Now according to Bloomberg Intelligence YouTube may average more than 300 million hours daily. And this audience should help YouTube's net ad sales which is expected to rise 21 percent to more than five billion dollars in growth. Excuse me in 2016. And as you can see here grow even more in the future . Part of that growth could come from YouTube's new live TV streaming service which will reportedly launch in the first quarter of next year. At the same time Google hopes to convert on the virtual and augmented reality market. The company this month released a virtual reality headset that is cheaper than other options in the market. CEO Larry Page is making this move as some of Alfred's Moonshot businesses we're talking about Google Fiber and nest are being overhauled to reduce costs . We'll of course be following alphabets results when they cross . After Thursday's U.S. closing bell .

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The Numbers Don't Lie: Alphabet Earnings Preview

In today's "The Numbers Don't Lie," Bloomberg's Scarlet Fu previews Alphabet's third-quarter earnings report. She speaks on "What'd You Miss?" (Source: Bloomberg)

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