Alphabet's fourth-quarter revenue, profit beat estimates

Bulls Look to Alphabet Results to Keep Tech Stock Rally Going

Google parent company Alphabet has posted its fourth quarter 2018 and full fiscal year earnings, noting continued growth for the company and beating out many analysts' estimates.

Quarterly profit was $8.95-billion, or $12.77 per share, compared with a $3-billion loss a year ago.

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. Analysts on average were expecting $31.33 billion, according to data compiled by Bloomberg. Little is known about the finances of YouTube, Google's homegrown smartphones and other hardware, its cloud-computing operation, and potentially promising experiments such as driverless cars.

Google and Facebook ads are still more relevant and effective than most other options because the companies collect so much information on activity across the internet and beyond.

The company has authorized a plan to buy back an additional $12.5 billion worth of its shares, Porat said.

For a point of comparison, Google's "other revenues" segment "only" brought in $3.4 billion in revenue in the last quarter of 2016, so the business has nearly doubled in the last two years.

More news: New S Pen could be Samsung Galaxy Note 9's standout feature

Greene and incoming leader Thomas Kurian are planning Google Cloud's 2019 strategy together, Pichai said, and the company plans to increase hiring in sales and marketing in hopes of adding more multiyear big-company cloud deals. For the full year, analysts are looking for EPS of $41.81 and revenues of $136.49 billion, the vast majority of which is ad revenue from Google search and YouTube.

Google grew headcount to 98,771 at the end of the year, up from 80,110, with most of the growth coming in engineers and product mangers, and most of that in cloud. And it would be short-sighted to count Google out, though Amazon and Microsoft's businesses are larger. Capital expenditures rose 64 percent compared to a year ago, up to $7.08 billion. Operating losses were $1.33 billion.

Pichai highlighted YouTube as one of the company's success stories, saying the number of YouTube channels with more than 1 million subscribers almost doubled in 2018.

The company's "other bets", including its autonomous driving division Waymo and its life sciences and cybersecurity units, took in $154 million in revenue.

The rise of the Faangs helped propel stock markets to new highs and their stumble helped to drag down indices across the world a year ago.

"Acquisitions are an attractive complement to what we do to drive organic growth", Porat said on Monday.

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