The company showed a one-time gain on equity securities of $3.03 billion from its portfolio, which is probably mostly from its 2013 investment in Uber. At that time, the company put about $258 million into the company at a valuation of about $3.8 billion. Uber is now worth north of $60 billion.
It's especially interesting since Alphabet's self-driving car company, Waymo, just wrapped up a lawsuit against Uber this year.
Comparing recast financials for "Other Bets" with the original figures showed that Nest lost $168 million on revenue of $278 million in the fourth quarter of last year, spanning the critical holiday season. For the entire year, it lost $621 million on revenue of $726 million.
Investors have yearned for years to know more about Google's giant businesses, outside its core search advertising revenue stream. But despite owning mammoths like Android and YouTube, Alphabet has been slow to draw back the curtains as it has transitioned from one company (Google) to a conglomerate (Alphabet) over the past few years.