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Keyword: Google mother Title: Google parent Alphabet exceeds expectations with quarterly figures
Alphabet shares exceed expectations: market value at $2 trillion. Find out more about the quarterly balance sheet and the company's impressive development.
Keyword: Google mother Title: Google parent Alphabet exceeds expectations with quarterly figures
Alphabet, Google's parent company, beat analysts' expectations last quarter with revenue rising 15 percent to $80.5 billion. Profit rose to $23.66 billion, compared to $15 billion a year earlier. A dividend of 20 cents per share was announced, accompanied by the prospect of further distributions.
Alphabet's main revenue driver remains Google's advertising business, which rose from $54.5 billion to $61.66 billion. The video platform YouTube contributed around $8 billion. Revenue from the “other bets,” such as self-driving cars and delivery drones, rose from $288 million to $495 million, while the division's operating loss was significantly reduced.
The positive development of Google's advertising business, particularly in web search, is being closely monitored. The company is responding with AI capabilities to improve the user experience. Alphabet shares rose 9.97 percent after the quarterly results were released and are approaching a market value of over $2 trillion, which could put it in the exclusive club of companies such as Microsoft, Apple and NVIDIA with similarly large market capitalizations.