Google's parent Alphabet reports strong earnings

Alphabet Blows Away Q4 Earnings Estimates Shares Fall

Alphabet's revenues for the quarter were 22% higher than the same period past year and the company made a profit of $8.9bn, the company announced on Monday.

Facebook Inc. showed that last week by reporting a 30 percent jump in fourth-quarter revenue from a year earlier.

"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", Porat added.

A booming digital advertising market lifted Google's fourth-quarter advertising sales by a fifth and helped Alphabet, its parent, to beat Wall Street's profit and revenue forecasts last night.

Alphabet's fourth-quarter revenue rose 22 percent from a year ago to $39.28 billion, compared with Wall Street's average estimate of $38.93 billion, according to IBES data from Refinitiv.

Google is asking investors to trust that investments in future growth will pay off, but the company discloses limited financial details on its newer initiatives. Earnings per share were actually $12.77.

Google's mostly free search, video and productivity tools are used by billions of people across the world, despite a backlash in some countries over how the company uses and protects customer information.

Online commerce grew quickly in the final quarter of 2018, helping Google's ad business.

We continue to invest in both compute requirements and for office facilities.

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.

While Alphabet relies on Google's advertising business to generate profits, YouTube and cloud computing are costlier operations than its traditional desktop businesses.

He's happy Google is spending heavily on YouTube, cloud and hardware.

Yet, the biggest issue for Google right now might not be regulatory risks so much as its own ongoing effort to diversify its revenue streams amid competition from other large technology companies. Operating losses were $1.33 billion.

Pichai highlighted YouTube as one of the company's success stories, saying the number of YouTube channels with more than 1 million subscribers almost doubled in 2018. Chief Executive Sundar Pichai (pictured) has said only that it's a billion-dollar-a-quarter business, and that was a year ago.

Alphabet's cash and other short-term holdings totaled $109.14 billion at the end of 2018. For the full year, analysts are looking for EPS of $41.81 and revenues of $136.49 billion, the vast majority of which is ad revenue from Google search and YouTube. We are very open to acquisitions, ' said Porat.

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