With the release of its fourth-quarter earnings report today, Google parent company Alphabet became the world's most valuable company, and kicked Apple out of that coveted spot.
Alphabet's report was divided in two segments: One for its core business, another for its eclectic assortment of experimental, higher-risk ventures. The company racked up $3.6 billion in losses last year, through "moonshots" like self-driving cars and Internet service balloons. But that's just what ambitious R&D budgets look like, folks.
Students used Google Cardboard virtual reality viewers to “tour” Canada’s Parliament at an event in January, 2015. Photo: Reuters
As Re/Code put it, the report showed Wall Street what Wall Street really wanted to see: “Google’s business is doing fine.” Snip:
Google altogether beat expectations, reporting net revenue, minus partner site payout, of $17.3 billion on $8.67 earnings per share. Wall Street was looking for something around $16.9 billion on $8.10 in profit.
More critically, Wall Street was waiting for the profit margins, which have been moving downward in recent years. This quarter should show how meaty Google’s core business is when its costly ventures are stripped away.
It’s higher, but not by much. For this quarter, Google’s operating income was $6.7 billion for a margin of 32 percent. For the same quarter last year, Google reported $5.6 billion in operating income, a 31 percent margin.
The stock went up 8.24 percent in after-hours trading.
Yahoo’s sale to Verizon means that Yahoo’s sub-companies — Flickr, Tumblr and a host of others — are now divisions of a phone company, and as you might expect, being on the payroll of a notorious neutracidal maniac with a long history of sleazy, invasive, privacy-destroying, monopolistic, deceptive, anti-competitive, scumbag shakedowns has changed the public […]
What was last week posed as an indefinite leave of absence is now for good: Travis Kalanick, CEO of scandal-wracked rideshare company Uber, announced that he is leaving the company. “I love Uber more than anything in the world and at this difficult moment in my personal life I have accepted the investors request to […]
Chinese state media reports on a $28/RMB188 app that browses webcams whose default passwords haven’t been changed, allowing subscribers to watch the goings-on in stores, living rooms, bedrooms, children’s rooms, and anywhere a CCTV might be installed.
As the old saying goes, “You should sit in meditation for 30 minutes every day. Unless you are too busy, in which case you should meditate for an hour.” Since most of us have an endless list of things to do and people to see, carving out quiet time can feel impossible, especially when most […]
The Bragi Dash Truly Wireless Smart Earphones are far more than your run of the mill Bluetooth earbuds. While the earpiece design makes these earbuds ideal for exercise and activity, and passive noise cancelling is conducive to a more serene listening experience, these buds go well beyond just playing music.First of all, they can actually […]