Google Parent Alphabet Beats Holiday-Quarter Earnings Expectations

Google Parent Alphabet Beats Holiday-Quarter Earnings Expectations

Alphabet reported most of its profits from sales from Google and its advertising units, which brought in about 32.64 billion in the fourth quarter.

The company reported net income of $8.95 billion, or $12.77 per Class A and B common share and Class C capital share, in the quarter ended December 31, compared with a loss of $3.02 billion, or $4.35 per share, a year earlier when it recorded a one-time tax charge of $9.9 billion.

Overall, Alphabet recorded $39.3 billion in revenue during the fourth quarter, with Google's advertising business accounting for the vast majority of that revenue. Figures for the company year-over-year are up nearly across the board, with the notable exception of Google's traffic acquisition costs (TAC) and operating losses for Google's "Other bets" category.

The company has authorized a plan to buy back an additional $12.5 billion worth of its shares, Porat said. Losses in the category aren't uncommon since the other bets category is understood to be an umbrella for Alphabet's long-shot, experimental projects.

Alphabet Inc. (NASDAQ: GOOGL) is set to report fourth-quarter and full-year results after the closing bell Monday. YouTube's share of Google's net ad revenue worldwide remains at 11%.

"Google saw a steep decline in operating margins", said Richard Kramer, analyst at Arete Research "They have plenty of cash to invest, and $7 billion in capex is a huge spend".

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Expenses rose to $31 billion compared with $24.6 billion in the same period a year ago. And it would be short-sighted to count Google out, though Amazon and Microsoft's businesses are larger.

Money spent on Google hardware, such as Pixel smartphones or Nest smart home devices, was also a factor along with investments in datacenters essential to Google's growing cloud computing business. Revenues from Other Bets were just $154 million, with operating loss reaching $1.328 billion.

Alphabet reported that Google's capital expenditures more than doubled. Alphabet's profits were thinner because of its investment in cloud services. Google Chief Executive Sundar Pichai told analysts the number of people shopping on Google.com each day during the holidays doubled over past year. The three largest advertisers, according to Ad Exchanger, were Geico, Samsung and Disney, which together accounted for 15% of all advertising previous year.

'Acquisitions are an attractive complement to what we do to drive organic growth.

Cloud engineers and sales professionals also made up the bulk of the 4,000 employees it hired during the quarter, Porat said.

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