29 de septiembre de 2020
English - News

Alphabet beats on earnings per share, misses on revenue

San Francisco, Feb 3 (efe-epa).- Internet giant Alphabet, the parent company of Google, released yearly and quarterly results on Monday, showing net profits of $34.343 billion in 2019, 11.7 percent more than the previous year, when the company took in $30.736 billion in profits.

The Mountain View, California-based multinational conglomerate announced its results after the close on the New York Stock Exchange, saying that it took in $161.857 billion this past year, 18.3 percent more than the $136.819 billion it earned during its 2018 fiscal year.

For the first time, and in a significant change of its strategy for communicating its financial results, Alphabet (ticker symbol GOOGL) released its earnings by sectors, including isolated figures for two of the products that spark the most interest in terms of the firm's future among analysts and investors: YouTube, which billed $15.15 billion in 2019 and Google Cloud, which achieved sales of $8.92 billion.

The firm said that during the fourth quarter of 2019 it earned $10.7 billion, or $15.35 per share, beating analysts' expectations and up 19 percent from the $8.9 billion - or $12.77 per share - during the same quarter in 2018.

Analysts had expected the firm to announce earnings of $12.49 per share, as per FactSet polling of analysts.

But although analysts had expected $38.4 billion in net revenue after advertising costs, the firm missed that target, announcing earnings of $37.6 billion and while this was up 18 percent from the $31.8 billion announced a year earlier, the miss sent the firm's shares plunging some $70 (4.7 percent) to about $1,413 in after-hours trading, after rising 3.5 percent to $1,482.60 during regular market hours.

During the past year, Alphabet significantly increased its long-term debt from $4.012 billion in December 2018 to $4.554 billion at present.

The 4Q announcement is the first quarterly earnings report since Sundar Pichai, formerly the CEO of Google, took over as CEO of Alphabet from Larry Page and Sergey Brin, who stepped down in December 2019, although the pair remain controlling shareholders of Alphabet, Inc.

Pichai said in presenting the corporate results on Monday that the firm's investments in artificial intelligence, environmental computation and the cloud provide a solid basis for continued growth and open up new opportunities in all the firm's divisions.

Alphabet is the fourth largest tech firm in the world and makes most of its revenue from global search advertising sales. Its main competitors are Apple, Amazon and Facebook.


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