Google's rise helps Alphabet post $32.32 billion in Q4 2017 revenue

03 February, 2018, 11:33 | Author: Martin Tyler

Among the countless disruptions ripping across information technology, cloud computing stood out last year, and with the new year underway, its impact is only accelerating.

Shares in Alphabet slid 2.7 per cent in after-hours trade on the results, highlighting concerns about rising costs for the online giant and profits weaker than expected.

Another tech behemoth, Inc (NASDAQ:AMZN) got a more effusive response to its earnings update. Microsoft Corp. also said yesterday that cloud revenues almost doubled.

Adjusted earnings for the quarter rose to $9.70 per share from $9.36 per share previous year. The stock had a trading volume of 4,964,687 shares, compared to its average volume of 1,791,171. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.99 by ($0.29).

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The tax law has given companies more affordable access to overseas profits, and Porat said Alphabet would make a "modest increase" in share buybacks with an additional allocation of US$8.6 billion. Odey Holdings AG boosted its stake in shares of Alphabet by 18.2% during the 2nd quarter. As of the end of December, revenue for those other bets stood at $409 million, up from only $262 million during the same period in 2016.

This was boosted by a tax benefit of about $789mln under the new U.S. tax laws.

The majority of Google's business comes from advertising, which accounted for $27 billion in revenues for the just-ended quarter.

Even after Google's disclosure that Google Cloud and G-Suite software is now on an annual $4 billion run rate, analysts are speculating about the exact split. Farmers National Bank grew its holdings in Alphabet by 2.7% during the 1st quarter. Its other businesses, like cloud computing, hardware such as smart speakers and phones, apps in the Google Play store, and subscriptions to YouTube Red and TV, made up more of Google's revenue during the quarter, thanks in part to the holiday shopping season.

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Google's parent company Alphabet has revealed its financial report for both the fourth quarter of 2017 and the entire fiscal year.

Google CEO Sundar Pichai said he expects more diversification from the unit, which has relied on the internet search engine and its related advertising revenues. Google aims to woo enterprise customers with cloud-based data analytics and artificial-intelligence tools.

"We are making big strides on our biggest bets", Pichai said. The loss from those projects narrowed to $916 million from $1.1 billion. Amazon reported $5.1 billion in sales across its cloud division for the fourth quarter.

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