Alphabet stock slips despite revenue increase of 23% in 2018

06 February, 2019, 05:26 | Author: Sally Reid
  • Alphabet Blows Away Q4 Earnings Estimates Shares Fall

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.

Winter Weather Advisory Issued For Western New York
Residents can expect temperatures to be well above average again Tuesday, according to the National Weather Service . We will see patchy freezing drizzle this morning and more widespread heavier freezing rain this afternoon.

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.



LeBron stars on return from injury
The Lakers won just 11 of 17 games since James strained his groin in a game against the Golden State Warriors . He was originally listed as out but was upgraded to doubtful earlier in the day.

Social Media Has A Clear Favorite For The Best Super Bowl Commercial
Bud Light debuts a surprise Game of Thrones crossover commercial during Super Bowl 2019, and it is brutal. "Sugar is sugar. In Anheuser-Busch InBev's ads , a medieval crew delivers a cask of unwanted corn syrup to Miller Lite and Coors Light .

To-Play Titanfall Battle Royale Game, Apex Legends, Will Release Tomorrow
DualShockers will be sure to keep you updated as more information comes out about the game during tomorrow's livestream. According to Kotaku and Rod Breslau , EA apparently invited several influencers to an event to play the game last week.

Man to appear in court following Brisbane airport bomb scare
The most serious charge was threatening to destroy an aviation facility, which carries a potential sentence of 10 years in prison. Police will allege the exclusion zone in Surfers Paradise was a precaution related to the Brisbane Airport incident.

People Killed in US California as Aircraft Crashes Into House
It's been reported that a small plane came apart in the air, dropping parts throughout a neighbourhood in southern California . The accident happened at 2pm pacific time (10pm GMT) in Yorba Linda, a city about 26 miles southeast of downtown Los Angeles.

MMA fighter captured after escaping custody during transport from MI to Texas
Marks, 44, who calls himself "Spiderman" when in the MMA cage, has been all over the country during his adult life, records show. April Pease , Marks' ex-girlfriend and mother of a son, was reported missing March 17, 2009, according to The Charley Project.

Why SpongeBob SquarePants was at the Super Bowl
The only thing that would have made it any better would have been the presence of his OutKast partner Andre 3000. Last year's Super Bowl halftime show featured Justin Timberlake , and Lady Gaga performed the year before.

Graeme Souness: Manchester City in danger of throwing it all away
Leno, Lichtsteiner, Koscielny, Mustafi, Monreal, Kolasinac, Guendouzi, Torreira, Iwobi, Lacazette, Aubameyang . Sokratis Papastathopoulos , who injured an ankle against United, will be sidelined until the end of the month.

Rams-Patriots will be the 8th Super Bowl rematch
The Los Angeles Rams' quarterback Jared Goff is only 24 years old and has never before played in a Super Bowl. Louis in 2000 and '02, have four players who have gotten to the big game.

Fast facts about Groundhog Day 2019
In the midst of a historic cold snap, Groundhog Day brought good news this year, as Punxsutawney Phil predicted an early spring. But regardless of the result, the spring equinox is set for March 20, whether or not any of the groundhogs see their shadows.