Google stock up 5 percent after pulverizing earnings expectations
24 July, 2018, 21:36 | Author: Kevin Carter
In the same quarter a year ago, Alphabetreported earnings of $8.90 per share, excluding a $2.7 billion regulatory fine the European Union imposed on the tech giant.
Google properties revenue jumped 26 percent to $23.3 billion.
Shares of Google were up significantly after hours, rising 5 percent immediately after the numbers were released.
The future of the Android mobile operating system - which powers more than 85% of smartphones - has been clouded by the European Union action, which could forceGoogleto change its business arrangements with device makers. With the regulatory issue settled, they said, Google could get back to focusing on selling ads across the internet.
Net income came in at $US3.2 billion, down from $US3.5 billion in the same quarter of 2017, largely due to the European fine. Spending on Google Shopping search ads, which let marketers promote consumer products, increased 31 percent in the second quarter from a year earlier, according to data from digital marketing firm Merkle; those gains came even as Amazon revs up its own ads business.
Business Insider has contacted Google for comment.
For a company that was just hit with staggering $5 billion fine, Google and parent company Alphabet are as unbothered as ever.
"I think overall it [Android] has created more choice for everyone, not less", Pichai said during the call, when asked about the European Union decision. Google is appealing the ruling. Alphabet has said it will appeal the order.
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. The company's other revenue bucket, which includes cloud, hardware and app sales, grew 37 per cent to US$4.4 billion in the second quarter.
"We're pleased with the ongoing momentum in our advertising businesses", said Porat on a conference call for investors, adding that Alphlabet has high hopes for the positive impact of machine learning on its ad business.
Revenue in Alphabet's "moonshot" Other Bets category came in at $145 million with operating losses rising to $732 million.
"Alphabet also breaks out the revenues and losses for its 'Other Bets, ' like healthcare company Verily, internet service provider Fiber, and self-driving vehicle company Waymo".
Fakhar Zaman and Imam-ul-Haq added 168 runs for the opening wicket which was also their fourth hundred-run partnership. Prince Masvaure made 39 and Ryan Murray contributed 47 - personal bests for both players in their short careers.
Ahead of the launch, Xiaomi has posted a few teasers online to give us a fair idea about what to expect from the new Mi Max 3. Taking previous leaks into consideration, the Mi A2 is expected to sport a 5.99-inch full HD+ display without a notch.
Jupiter's newly-discovered moons are all less than two miles wide, which may explain why they've only just been discovered now. The massive gas giant began muscling in on the telescope's line of sight and in doing so, revealed a few secrets of its own.
In his speech, Pompeo vowed to keep up the financial pressure on Tehran, specifically targeting the banking and energy sectors. Trump withdrew in May from the 2015 nuclear deal created to stop Iran from developing nuclear weapons.
When online, the links on the main page advertising the Prime Day deals instead went nowhere - except to the main page itself. Amazon says it's working to resolve the glitches on its website that kept shoppers from buying on its much-hyped Prime Day .
Wilkinson said that while Rowley had been discharged, it was a "day tinged with sadness for everyone" as they remembered Sturgess. The Organisation for the Prohibition of Chemical Weapons (OPCW) will analyse the substance before reporting back its conclusions.
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The Indian skipper endured a woeful tour here in 2014, while the English pacer is now on the recovery path for the Test series. But he is expected to comeback during second Test. "Bhuvi's injury (stiff back) is a real setback for India".
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"Russia has agreed to help with North Korea, where relationships with us are very good and the process is moving along". Chris Van Hollen, D-Md., to deter future Russian interference by ordering sanctions against countries if they do.