Wednesday, 20 February, 2019


Google parent beats Wall Street estimates, but spending worries investors

The Google name is displayed outside the company's office in London Britain. Toby Melville Reuters  File The Google name is displayed outside the company's office in London Britain. Toby Melville Reuters File
Conrad Doyle | 05 February, 2019, 13:23

The same appears true for Google parent company Alphabet Inc.

He's expecting ad revenue from mobile search, YouTube and Google's programmatic advertising services to drive growth in the fourth quarter.

Other bets revenue was $595m, up from $477, though operating loss increased from $2.7bn to $3.36bn as well.

Alphabet shares have climbed 9 percent since the beginning of the year, while the Standard & Poor's 500 index has risen roughly 9 percent. Porat said headcount growth should moderate in 2019. The results have been mostly positive so far, helping extend a winning streak for tech stocks to a sixth week. Google advertising revenues were $32.63 billion in the fourth quarter, 83% of the total for Alphabet. The corporation reported $7 billion in expenditures, more than the projected $5.63 billion.

Pichai said Google's cloud computing unit a year ago doubled the number of deals it struck worth more than $1 million. The company's higher-growth businesses, which also include YouTube, are less profitable than the original Google desktop search service.

One stunning number is telling about Google's effectiveness as a business. It's also seeing an "uptick" in $100 million contracts, Porat said.

Google CEO Sundar Pichai made sure to thank outgoing Google Cloud CEO Diane Greene for her efforts during his prepared remarks.

Google faced scrutiny in late 2018 over alleged bias against conservatives on its signature search engine, as well as the decision to provide Android co-founder Andy Rubin $90 million in severance pay after he was sacked amid sexual misconduct claims - sparking a global protest among employees.

The company has authorized a plan to buy back an additional $12.5-billion worth of its shares, Porat also said. Alphabet's Q4 results in "other revenues" like the Google Play store and hardware sales, underperformed and brought in $154 million. Pichai declined to elaborate today except to say that Google aims to get the "right fit" for any acquisition. Google remains behind rival Amazon.com Inc in the cloud, said Cordwell. Amazon, in particular, has been able to grow their advertising business significantly in recent years.

"At Google's massive scale, a slowdown in ad revenue growth is to be expected, particularly in the USA, eMarketer Senior Forecasting Director Monica Peart said in an email". That was the same growth rate as reported for last year's fourth quarter, which worries some analysts. A year ago, the company's operating margin was 29.6%, according to FactSet.

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