Alphabet shares sink despite making $8.9bn profit in last quarter
06 February, 2019, 05:26 | Author: Sara Gill
On one hand, there are the positives: Alphabetreportedearnings of $39.27bn in the fourth quarter of 2018. It revealed an operating margin of 21 percent for the fourth quarter, which was lower than the projected 22 percent margin and the 23 percent margin it reported in Q4 2017.
Pichai said Google'scloud computing unit previous year doubled the number of deals it struck worth more than $1 million.
Google grew headcount to 98,771 at the end of the year, up from 80,110, with most of the growth coming in engineers and product mangers, and most of that in cloud.
Porat talked about a moderation in head count growth and capital spending in 2019, but didn't provide specific details.
The company also spent heavily on YouTube, which shares a lot of its ad revenue with content creators and larger media partners.
The Google name is displayed outside the company's office in London, Britain. Other revenue, which includes its cloud business and hardware (like Pixel phones, Home smart speakers and more) rose 31% to $6.49 billion, slightly topping Wall Street expectations.
Investors were a bit disappointed with the report, sending Alphabet's shares down $32.20 (2.8%) in after-hours trading to $1,100.60. Earlier, they closed at $1,141.42 in regular NY trading. "But with talk of economic pressures on the horizon in the USA, noticeable sluggishness in their fourth-quarter performance could warn of more dramatic slowdowns in the digital advertising market, which had been relatively insulated while the ad giant enjoyed strong double-digit growth rates".
Analysts on average had expected revenue of $38.93bn and earnings of $10.87 per share, according to IBES data from Refinitiv.
Alphabet-Google's parent company-today announced that a net profit of $8.9 billion on revenues of $39.3 billion in the quarter ending December 31.
On the other hand, however, are the negatives: fees that the company has to pay Google and Apple to remain their default search engine were also up in the same time period.
Concerns appear to be around how much Google is able to charge advertisers for ads.
Google's ad sales machine is still going strong even as regulators and consumers scrutinize the tech industry's data-privacy practices. Among the more damaging of those was its work on a China-specific search engine which ultimately caused questions to be raised by the U.S. government.
Still, ads from Google and rival Facebook Inc. are more relevant and effective than most other options - precisely because the companies collect so much information on activity across the internet and beyond.
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