alt Hacker NewsYouTube and AdSense are both extraordinarily profitable. Google Play and Cloud are great revenue drivers as well. Search Ads are still the king of the hill, but it's definitely not their only profitable project, and many of the "unprofitable" projects funnel traffic to profitable ones--Chrome gives Search uplift, Google Play can't exist without Android, etc.
Definitely, they found another cash printer in Youtube but to be fair, they bought that. My comment wasn’t intended to be definitive. Yes, a lot of their other products are really just funnels to their search ads though. Strategic plays have value too of course.