The shift occurred in Monday's extended trading after Alphabet, Google's new parent company, released a fourth-quarter earnings report that highlighted the robust growth of the digital ad market. Apple's iPhone, meanwhile, is suffering its first downturn since it debuted eight years ago
Alphabet earned USD 4.9 billion on revenue of USD 21.3 billion in the fourth quarter. If not for employee stock expenses and certain other items, Alphabet said it would have earned USD 8.67 per share. That figure easily topped the average estimate of USD 8.10 per share among analysts surveyed by FactSet.
The report provided the most detailed breakdown yet on the profits pouring in from Google's dominant search engine and ad network. (Google reorganised itself under Alphabet last October.) Investors pushed up Alphabet stock USD 35.73, or 4.6 per cent, to USD 806.50 in extended trading.
Read more at: Alphabet overtakes Apple as the world's most valuable company - Moneycontrol.com
Alphabet earned USD 4.9 billion on revenue of USD 21.3 billion in the fourth quarter. If not for employee stock expenses and certain other items, Alphabet said it would have earned USD 8.67 per share. That figure easily topped the average estimate of USD 8.10 per share among analysts surveyed by FactSet.
The report provided the most detailed breakdown yet on the profits pouring in from Google's dominant search engine and ad network. (Google reorganised itself under Alphabet last October.) Investors pushed up Alphabet stock USD 35.73, or 4.6 per cent, to USD 806.50 in extended trading.
Read more at: Alphabet overtakes Apple as the world's most valuable company - Moneycontrol.com
