By Rachel Lerman Published 3:43 pm PST, Monday, February 4, 2019 Yes, Google’s parent did top estimates, but investors weren’t exactly pleased. Yes, Google’s parent did top estimates, but investors weren’t exactly pleased. Photo: Mark Lennihan / Associated Press 2018 Photo: Mark Lennihan / Associated Press 2018 Image 1 of / 1 Caption Close Image 1 of 1 Yes, Google’s parent did top estimates, but investors weren’t exactly pleased. Yes, Google’s parent did top estimates, but investors weren’t exactly pleased. Photo: Mark Lennihan / Associated Press 2018 Alphabet beats fourth-quarter estimates, stock still drops 1 / 1 Back to Gallery … [Read more...] about Alphabet beats fourth-quarter estimates, stock still drops
Alphabet
Google parent Alphabet reports continued revenue and profit growth
News / UK and world by Press Association February 4, 2019, 10:28 pm Send us a story Sign up to our Daily newsletter Revenue and profit at Google parent company Alphabet has continued to rise, driven by its core Google products and digital advertising arm. The company reported revenue of 39.2 billion US dollars (£30.1 billion) in the three months up to December 31, an increase of 22% on the previous year. For the full year, revenue stood at 136.8 billion dollars (£104.9 billion), a rise of £19.8 billion on 2017’s results. Profits also continued to grow at the tech giant, reaching 8.2 billion dollars (£6.2 billion), compared to 7.6 billion dollars (£5.8 billion) during the same period a year previous. Its flagship Google firm proved to be the driving force behind much of the gains, netting 36.5 billion dollars (£27.9 billion) in profit but Alphabet’s other bets – which includes its self-driving project Waymo and … [Read more...] about Google parent Alphabet reports continued revenue and profit growth
Alphabet beats Wall St. estimates, but spending worries investors
By Paresh Dave and Arjun Panchadar SAN FRANCISCO (Reuters) - Alphabet Inc's fourth-quarter revenue and profit beat Wall Street's expectations on Monday but sharply higher spending, as it added data centres and marketed its services heavily during the holidays, worried investors. The company's shares, which have risen almost 17 percent over the past six weeks, fell 2.3 percent to $1,114.60 in after-hours trading. Partly because of the higher spending, Alphabet reported an operating margin of 21 percent in the fourth quarter, down from 24 percent a year ago. Facebook Inc's better-then-expected fourth-quarter results last week had lifted expectations for Alphabet as they suggested that concerns about a global economic slowdown may be overblown. Alphabet's fourth quarter revenue rose 22 percent from a year ago to $39.28 billion (£30.09 billion), compared to the average expectation of $38.93 billion among analysts tracked by Refinitiv. About 83 percent of the revenue came from Google's … [Read more...] about Alphabet beats Wall St. estimates, but spending worries investors
Lawsuit: Google Parent Alphabet Lost ‘Billions’ by Covering Up Sexual Abuse
Google parent company Alphabet reportedly lost “billions” of dollars after “covering up sexual abuse” at the company, and now a shareholder is suing because of it. According to Mercury News, which cited a recent lawsuit from shareholder James Martin, “Alphabet’s board of directors cost the firm billions of dollars by covering up sexual abuse by senior executives and paying them millions as they were quietly ousted.”Martin is reportedly suing Alphabet’s board of directors over the loss, which came from the company’s stock plummeting during the “fallout” of the scandal. “A worldwide walkout in November by thousands of Google employees, in response to revelations in the New York Times about Rubin’s alleged golden parachute, cost Google hundreds of millions of dollars beyond the executives’ payouts,” Mercury News reported. “And fallout from the purported scandal led to billions of dollars in … [Read more...] about Lawsuit: Google Parent Alphabet Lost ‘Billions’ by Covering Up Sexual Abuse
Alphabet’s life science tech unit Verily raises $1 billion from investors
(Reuters) - Verily, Alphabet Inc's <GOOGL.O> life sciences division, on Thursday announced a $1 billion (791 million pounds) investment round led by private equity firm Silver Lake. Alphabet Chief Financial Officer Ruth Porat and Silver Lake Managing Director Egon Durban will be nominated to Verily's operating board, the company said. Verily's existing board members include Chief Executive Andrew Conrad, Alphabet executives Larry Page, Sergey Brin and David Drummond and Temasek senior managing director Fidah Alsagoff, a company spokeswoman said. Ontario Teachers' Pension Plan was among the new investors in the latest round. Verily, which was previously part of Google's research and development unit, received an $800 million investment from Singapore state investor Temasek in 2017. Verily said the new fund would support its investments, including in potential acquisitions and partnerships, and would advance its strategies that are complementary to its current portfolio. The … [Read more...] about Alphabet’s life science tech unit Verily raises $1 billion from investors