Google parent’s fourth-quarter revenue, profit beat estimates
05 February, 2019, 13:21 | Author: Eric Barnett
Google Cloud also drove higher expenses, mostly headcount, which rose from the third quarter by nearly 4,400 people, to 98,771. Join us as we tackle the business and technology challenges behind building autonomous networks.
On a per-share basis, the Mountain View, California-based company said it had profit of $12.77.
"The rate of year-on-year capex growth will slow meaningfully", she said, with greater focus on server capex.
Google for now maintains its pole position atop a digital advertising duopoly with Facebook Inc., which reported better-than expected earnings last week on a 30 percent rise in revenues, virtually all from advertising.
While Alphabet relies on Google's advertising business to generate profits, YouTube and cloud computing are costlier operations than its traditional desktop businesses. "This reflects our outlook for global growth in ads, search, YouTube and cloud".
Also notable: Alphabet's other revenues, which include non-Google business, such as the company's autonomous auto project, saw its losses almost double, to the tune of $1.3 billion for the holiday quarter. But he didn't provide specific benchmarks.
Google's parent company Alphabet released its quarterly earnings, beating expectations.
Google is asking investors to trust that investments in future growth will pay off, but the company discloses limited financial details on its newer initiatives. "What Diane and her team accomplished is phenomenal". Only problem: Some higher expenses for spending on cloud engineers and data centers as well as YouTube content didn't thrill investors. (Nasdaq: ORCL) vet, are working closely on a transition, Pichai said.
The other segment of interest in Alphabet's ledger is "other bets", which is where the company lumps all non-Google business. Referred to internally as "Project Dragonfly", Google was said to be preparing to introduce the censored engine in 2019 but later abandoned the plans. Alphabet's profits were thinner because of its investment in cloud services.
Google passed 5 million paying customers for G Suite at year end, Pichai said.
Google faced scrutiny in late 2018 over alleged bias against conservatives on its signature search engine, as well as the decision to provide Android co-founder Andy Rubin $90 million in severance pay after he was sacked amid sexual misconduct claims - sparking a global protest among employees. He did say data management, analytics, cloud-native application platforms and multi-cloud are among those strengths. Frustratingly, he didn't say what those were; we have a query in to Alphabet, but the company hadn't responded at press time.
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