Alphabet Stock Skyrockets on Stellar Earnings Despite $5 Billion E.U. Fine

Aurich Lawson

Aurich Lawson

Revenue was $32.7 billion, an increase of 26 percent over the same period previous year. Even though these numbers were puffed up by new accounting rules on equity investments, Google is churning out extraordinary amounts of profit.

Google has continued to give search ads more prominent space on mobile phones, helping to fuel the brisk sales growth. "I'm confident that we can find a way to make sure that Android is available at scale to users everywhere". The company had revenues of $32.7 billion for the quarter, which is up 26% year-over-year - extremely impressive for a company of this size. Government pressure to improve moderation of user-created content has forced Google to hire more analysts.

Macquarie Group senior analyst Benjamin Schachter wrote in a report this month that "we are approaching a point where we (and we believe The Street collectively) are not understanding the size of search vs YouTube vs programmatic, which may lead to increasing volatility" in share price.

Daniel Ives of GBH Insights said in a research note that despite some regulatory concerns, "advertising and "bread and butter" search revenues were healthy and a good barometer of potential strength heading into the rest of 2018/2019".

First boys rescued from cave healthy, demand fried rice in hospital
After Musk received an outpouring of gratitude for his rescue plans, he replied: " Thanks, we've not done anything useful yet ". The search and rescue operation has involved dozens of worldwide experts and rescuers, including a USA military team.

The EU Competition Commissioner said the United States tech giant abused Android's dominant market position to boost usage of its own search engine and browser. That leap reflects a recent push by Google to get marketers buying across more of its advertising channels.

Pichai was also circumspect about the company's cloud business, so as not to spoil expected announcements at Google Cloud Next '18, a conference focused on the Google Cloud Platform that opens in San Francisco on Tuesday. Google's capital expenditures doubled to $5.48 billion from the year-ago quarter, while the operating loss at its "other bets" segment grew to $732 million from $633 million. Google's traffic acquisition costs - what it pays to partners - also went up, reaching $3.4bn, from $3bn in Q2 2017. Still, that was 23 per cent of ad revenue, down from 24 per cent in the first quarter of 2018. The others: Apple (valued at $940 billion) and Amazon ($880 billion).

Google executives credited the company's mobile advertising business and the expansion of its cloud-computing business for the healthy revenue growth. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day.

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