Alphabet stock slips despite revenue increase of 23% in 2018
06 February, 2019, 05:26 | Author: Sally Reid
The company's net income for the most recent quarter was $8.9 billion.
While Alphabet has invested aggressively in new businesses such as cloud services and autonomous vehicles, advertising still generates most of its revenue.
Greene and incoming leader Thomas Kurian are planning Google Cloud's 2019 strategy together, Pichai said, and the company plans to increase hiring in sales and marketing in hopes of adding more multiyear big-company cloud deals.
"With great opportunities ahead, we continue to make focused investments in the talent and infrastructure needed to bring exceptional products and experiences to our users, advertisers and partners around the globe", said Ruth Porat, chief financial officer of Alphabet and Google. "This reflects our outlook for global growth in ads, search, YouTube and cloud".
Alphabet's Q4 2018 operating income totalled $8.20 billion United States dollars (roughly $10.76 billion CAD).
The company added almost 19,000 employees throughout 2018, ending the year with 98,771 employees total.
And, while video-sharing platform YouTube contributed strongly to revenue, the amount of money spent on content for its ad-supported and subscription offerings grew, according to Porat.
Not surprisingly, Google Home was the breakout hit for the company over the holiday season. YouTube numbers are buried inside Google, while cloud and hardware results are part of Google's Other revenues line.
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As a result, shares fell more than 3 percent in after-hours trading. Earlier, they closed at $1,141.42 in regular NY trading. Revenue of $6.5 billion in the quarter represented a 31 percent increase year-over-year.
Analysts polled by FactSet were expecting earnings per share of $10.86, or a profit of $7.6 billion, on revenue of $38.9 billion.
The company reported net income of US$8.95 billion, or US$12.77 per Class A and B common share and Class C capital share, in the quarter ended December 31, compared with a loss of US$3.02 billion, or US$4.35 per share, a year earlier when it recorded a one-time tax charge of $9.9 billion. Mobile search advertising revenue is Google's largest driver of growth.
Concerns grow over how Google, and others, use our data and share it with advertisers. Last month, French privacy regulators fined Google 50 million euros ($57 million) for not giving consumers enough information when it asked them to sign over access to their information.
Alphabet and Google, in particular, had a rollercoaster year in 2018 in terms of publicity.
Wall Street reacted negatively to another quarter of high expense growth: 26% in the latest three months. "The fundamentals of their advertising business remain intact".
Google's cloud unit is laboring through a management transition as well.
Alphabet's traffic acquisition costs - such as the fee it pays Apple to be the default browser on the iPhone - clocked in at $7.4 billion, just under Wall Street's predicted $7.6 billion and a 15 percent jump from previous year. Revenues from Other Bets were just $154 million, with operating loss reaching $1.328 billion. Operating losses were $1.33 billion. It also includes Verily and Waymo, health and driverless cars, respectively.
It's time for the majority of parents to trust the OR , national and global scientific communities and get their kids immunized. Both vaccines are typically given in two doses to young children, according to the Centers for Disease Control and Prevention.
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