Google parent firm Alphabet reports strong financial results

Google parent firm Alphabet reports strong financial results

Google parent firm Alphabet reports strong financial results

It wasn't a "bad" first-quarter report, per se. Koch Industries Inc. now owns 1,086,103 shares of the information services provider's stock worth $1,085,000 after purchasing an additional 1,085,504 shares during the last quarter.

Alphabet announced that its board has initiated a stock repurchase program on Thursday, February 1st that allows the company to buyback $8.59 billion in shares. NY increased its position in shares of Alphabet by 27.2% during the second quarter. A year earlier, Google earned $7.73 a share on sales of $24.75 billion. Excluding those gains, Alphabet would have made a profit of $9.93 per share. Total TAC amounted to $6.3bn in the first quarter, representing 24% of the online giant's advertising revenues for the period, according to the statement.

Also on the call, Porat addressed Google's $2.5 billion purchase of Chelsea Market in downtown Manhattan.

Alphabet earnings are up in after-hours trading. That category includes Alphabet's Nest smart-home business, which merged with Google's broader hardware business during the period.

Alphabet's noncore assets, like the Waymo self-driving auto unit, Google Fiber and life sciences firm Verily - which the company doesn't break out individually, listing them as one under "Other Bets" - cut operating losses to $571 million in the quarter, down from $703 million past year.

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Revenue for the quarter jumped almost 26 per cent to $31.1bn, up from $24.7bn.

Google is no longer reporting click volumes and trends for Google Network properties. Impressions were flat year-over-year, and only up 5% sequentially.

Internet advertising continues to be the company's cash cow, with its YouTube property and mobile search doing heavy lifting. The shares were sold at an average price of $1,107.87, for a total value of $40,991.19.

Perhaps most noteworthy is how Alphabet has started to factor in unrealized gains or losses on investments on the income statement.

In Europe, regulators are more firmly considering new rules and, in some cases, have taken already action. Meanwhile, Google parent company Alphabet saw a 33% year-on-year (YOY) growth in APAC revenue at US$4.8 billion, while EMEA revenue was at US$10.3 billion. Alphabet discloses nearly nothing about its business. The price has since dropped back down as of this posting to about where it was at close today. Zacks Investment Research upgraded Alphabet from a "hold" rating to a "buy" rating and set a $1,199.00 price target for the company in a research report on Tuesday, December 26th.

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GOOGL shareholders can thank Facebook (FB) for the shift.

Some investors have been concerned about Google dipping into more cost-intensive ventures, like its cloud computing offerings, but the company's high profits have put such concerns to rest in the interim. Also, the money Google pays for ad space on partner sites was substantially up.

And as RBC Capital Markets analyst Mark Mahaney recently penned, "Based on numerous discussions with investors, we believe the market may be underappreciating the regulatory risk facing Alphabet". Bottom line? Investors are still concerned about the potential impact of privacy regulations, increased competition, and pressure to combat offensive content.

But it's not clear what sort of regulations - if any - are in development in the United States at this time.

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