Alphabet Inc (GOOGL) Revenue up 24%, Earnings Miss the Mark

Ruth Porat

TAC is what Google pays partner websites to carry ads.

It is reported that this expense rise was partly down to Google's heavy promotion of its Pixel 2 smartphone and YouTube TV service. It cut prices on other types of hardware in an attempt to get its media streaming and online search devices into the homes of people.

However, some analysts looked past the costs and focused on a strong core ad business as well as positive comments from Google Chief Executive Officer Sundar Pichai on its fast-growing cloud computing business.

Apple sold 77.3 million iPhones during the 3 months, down 1 percent from a year earlier.

Financial analysts looked past the spending.

After excise cut on fuels, Siddaramaiah rules out sales tax reduction
Meanwhile, spokesperson of the prime minister has issued clarification relating to increase in the petroleum prices. Consumers and tax analysts alike were expecting an excise duty cut in the Budget to offset the rising oil prices.

The tech juggernaut posted earnings of $9.70 per share during the period, missing the $9.98 per share that analysts polled by Thomson Reuters were calling for.

The profit figure excludes a US$9.9-billion tax charge as Alphabet joined much of corporate America in reporting large one-time expenses in the fourth quarter due to USA legislation enacted in December that lowers corporate rates.

The company reported profits, excluding the impact of the tax law change, of $9.70 a share - short of the $10.04 expected by analysts.

Porat also addressed the controversy past year around a number of advertisers pulling their campaigns from YouTube following a tumultuous period for the Google-owned platform.

And that growth is set to continue if Pichai's claims on an earning call are to be believed: "We are also increasingly doing larger, more strategic deals with customers".

Bitcoin regulation: Everything you need to know as pressure mounts on cryptocurrencies
Officials later clarified that an outright ban is only one of the steps being considered, and a final decision was yet to be made. Bitcoin stood at US$10,123.13 as of 0842 GMT on the Luxembourg-based Bitstamp exchange.

Alphabet generated $32.3 billion in revenue during the fourth quarter, up 24% from the same period a year ago. For the 2017 year though the company still managed a net income of $12.7 billion.

The company also announced Thursday that on Wednesday, its board approved an $8.6 billion stock buyback of its Class C shares, saying the repurchase would take place "from time to time" through open-market purchases or privately negotiated deals.

Alphabet is attempting to maintain sales growth through new businesses, experimenting with operating a fleet of self-driving taxis through Waymo and licensing medical technology at Verily.

The company's total traffic acquisition costs, a measure of how much money the company spends to attract users to its search engine, rose 33 percent in the fourth quarter to US$6.45 billion.

Separately, Alphabet also named John Hennessy, a board member since 2004, as the Internet giant's new chairman, replacing Eric Schmidt, who said in December he would step down from that role.

Reeling Detroit Pistons host the Cleveland Cavaliers
Isaiah Thomas noted that players were not happy that he did not stay on the sidelines to support the rest of his team. Our models for Wednesday project James for 54.0 FanDuel points at a cost of $11,900. "It's a huge blow for our team".

Related news:

Hot News

isis-killer-beheading-video-story-top Father of Girls Abused by Larry Nassar Lunges at Doctor in Court
Feb 03, 2018 - 09:56
The judge later accepted Margraves' explanation that he "lost control" of his emotions and said she would not punish him. Then, he said, he looked over and saw Nassar sitting at the defense table "shaking his head "no" like it didn't happen".

isis-killer-beheading-video-story-top Poland approves draft Holocaust law
Feb 03, 2018 - 09:55
Israel has pilloried the legislation as "distortion of the truth, the rewriting of history and the denial of the Holocaust ". The bill passed Wednesday in the upper house of the Polish parliament days after passing in the lower one.

isis-killer-beheading-video-story-top Everton fans delighted with defender vs Leicester: "Absolute legend", "What a man"
Feb 03, 2018 - 09:55
Arsenal enter the match off the back of a 3-1 defeat to Swansea City , who at the time were bottom of the Premier League table. I think he saw that was going to be the case (for Arsenal ) last season when he played 30-plus games and scored 19 goals.

isis-killer-beheading-video-story-top Budget 2018: For Railways, safety culture, expansion take centre stage
Feb 03, 2018 - 09:51
To put the figure in context, this year's revised estimates for earnings is pegged at Rs 1,87,425 crore. In fact, highest priority has been given to the AC trains, which come at a price tag of Rs 16,380 crore.

isis-killer-beheading-video-story-top Meghan Markle's First Ever Awards Presentation Doesn't Go According to Plan
Feb 03, 2018 - 09:47
After a few seconds of struggle, he smiles, causing Meghan to smile as well, leaning in to see if she can help him out. The royal couple made their first public appearance together the same month, at the Invictus Games in Toronto.

isis-killer-beheading-video-story-top Mattis: The Syrian Regime 'Would Be Ill-Advised' to Use Chemical Weapons Again
Feb 03, 2018 - 09:43
Syria's government isn't the only chemical-weapons threat in the region, according to the officials. UN Security Council resolutions and the Chemical Weapons Convention ban such weapons.

isis-killer-beheading-video-story-top Australian Government Embarrassed by Release of Thousands of Sensitive Documents
Feb 02, 2018 - 10:31
The files discuss multiple different topics, all of which can be found in the ABC's fantastic reporting, which you can find here. The file cabinets were cheap because they were so heavy that no one wanted to lug them home, plus there was no key to open them.

isis-killer-beheading-video-story-top OnePlus brings iPhone X-like navigation gestures in latest Oreo beta release
Feb 02, 2018 - 10:31
The update takes that Launcher version to v2.2, Gallery to v2.0, Weather to v1.9 and finally File Manager has got v1.7.6. It also removed the Clipboard function that earlier this month. and for the OnePlus 5T were released earlier this month.

isis-killer-beheading-video-story-top SpaceX Launch Of Falcon Rocket With GovSat Payload
Feb 02, 2018 - 01:41

isis-killer-beheading-video-story-top John Wall out for All-Star game. Will Dragic be his replacement?
Feb 02, 2018 - 01:26

isis-killer-beheading-video-story-top 'Emotional assist peacock' barred from United Airways airplane
Feb 02, 2018 - 00:59

isis-killer-beheading-video-story-top Spotify Tests Free Pandora-Like 'Stations' Playlist App
Feb 01, 2018 - 01:13
But there's also a free tier that lets you pick the artist you want to listen to, but only on shuffle mode - and with ads. In the app, users can choose from curated music stations that provide a more simplified way of listening to music.

isis-killer-beheading-video-story-top Alexa is getting a new voice
Feb 01, 2018 - 01:12
What's needed to send an SMS via Alexa? You need to sign up for Alexa Calling & Messaging feature within the Alexa app. It only works for Alexa users in the USA with an Android device that also have the Alexa app installed on their phone.

isis-killer-beheading-video-story-top SolGen Calida: President has authority to discipline Deputy Ombudsman
Feb 01, 2018 - 01:11
It said the request concerned information provided to the Ombudsman by Trillanes and that it had yet to evaluate it. When asked if the decision was not reversed in a decision in 2013, Roque said, "No it can not be".

isis-killer-beheading-video-story-top Blackstone in Talks Over Deal With Thomson Reuters Unit
Feb 01, 2018 - 01:09
Thomson Reuters employs about 6,300 people in the United Kingdom , with its headquarters in Canary Wharf in London. The Thomsons, descended from company founder Roy Thomson, remain some of the richest people in Canada.