Google Stock Is a Better Deal Than It Looks

05 February, 2019, 20:23 | Author: Mary Valdez
  • Bulls Look to Alphabet Results to Keep Tech Stock Rally Going

The company reported profit of $8.9 billion U.S. on revenue of $39.3 billion.

"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 Alphabet chief financial officer Ruth Porat. "By that we mean data centers and machines".

Indeed, some analysts are expecting bigger things, in particular a significant acquisition, though it's not clear what company would change the landscape as much as, say, IBM Corp.'s $34 billion acquisition of Red Hat Inc. announced in October. He declined to name a specific number, but noted that Google's cloud business became a "multibillion dollar business" under Greene's leadership; "that was not the case five years ago", he said.

Alphabet's earnings per share of $12.77 beat Wall Street expectations of $10.86 per share, according to analysts polled by FactSet.

Alphabet's earnings totaled $12.77 a share in the fourth quarter, about $2 a share above the consensus estimate.

Google also had to pay more to attract traffic.

Among the numbers that stood out was the jump in costs and capital expenditures, both in Google and Alphabet's other bets.

Investors may see, for the first time, YouTube ad revenues broken out separately.

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Greene and incoming Google Cloud CEO Thomas Kurian, a longtime Oracle Corp.

Analysts said Google's core advertising business is starting to plateau, an indication of stiffening competition. Twelve analysts surveyed by Zacks expected $31.28 billion.

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

Concerns appear to be around how much Google is able to charge advertisers for ads.

Revenue from Google's Other division, which includes cloud and hardware, rose 31 percent to $6.49 billion.

And it's cloud computing where Google should be a major competitor, but it came late to the game, with Amazon's Web Services dominating, and Microsoft Azure gobbling up larger-enterprise customers. Revenues from Other Bets were just $154 million, with operating loss reaching $1.328 billion.

Losses from other bets almost doubled over the year to $1.3bn from $748m a year ago. It also includes Verily and Waymo, health and driverless cars, respectively. It was the lowest growth rate in the company's short history, and the company has many challenges to keep growing, but it turns out that Facebook keeps making bank because its ads work and the company is willing to plaster them all over its internet hangouts.

Cloud engineers and sales professionals also made up the bulk of the 4,000 employees it hired during the quarter, Porat said.



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