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.
Gabriella Corley is a 9 year old with Type I diabetes who’s allergic to the insulin covered by her low-income parents’ healthcare; to live, she must take Sanofi’s proprietary Apidra brand insulin, which has increased in price by 1,123% since 1996, and which is only covered to 25% by her insurer’s Pharmacy Benefit Manager, CVS.
Since the earliest days of ecommerce, analysts have predicted that retailers would use their estimations of their customers’ willingness to pay to invisibly, instantaneously reprice their goods, offering different prices to each customer.
The Intercept publishes a previously-unseen set of Snowden docs detailing more than $500,000,000 worth of secret payments by the Japanese government to the NSA, in exchange for access to the NSA’s specialized surveillance capabilities, in likely contravention of Japanese privacy law (the secrecy of the program means that the legality was never debated, so no […]
Bamboo has lots of uses beyond just being panda food. Things like bikes, roads, scaffolding, and musical instruments are made from the fast-growing grass. But unless you are participating in a tropical-themed LARP, you probably wouldn’t want a shirt made from bamboo stalks. So why do bamboo bed sheets make any sense? Because yarn extracted from […]
If you want to work in tech, but don’t have any desire to code web apps to help businesses sell things to other business, you might want to consider a career in cybersecurity. Judging from the apparent complete infiltration of Russian hackers in American cyberspace, it seems fair to speculate that there’s a major shortage of […]
All moms are different. But all moms like getting flowers on Mother’s Day, and that’s a fact (not, however a fact we can document in any fashion.) Instead of getting chewed out for forgetting to call her on the second Sunday of May, you can take care of it ahead of time with Teleflora’s flower […]