Google parent Alphabet reports USD 3 bn loss on tax provision

Rapid results wrap-up: Apple, Amazon, Facebook, Nintendo, Microsoft

Robert W. Baird maintained Alphabet Inc.

Alphabet reported fourth-quarter earnings results below expectations on Thursday due to rising expenses.

Non-advertising revenue from Google combined with revenue from Verily and the other Alphabet companies was $15.5 billion in 2017, accounting for about 14% of total revenue, compared to $10.9 billion, or 12%, in 2016. The company reported a 43 percent year-over-year change in aggregated paid clicks, surpassing the 42.1 percent change anticipated by StreetAccount. P/E provides a number that details how many years of earnings it will take a stock to recoup the value of one share at current price levels.

Porat also noted in the earnings call that Google's traffic acquisition costs as a percentage of revenue would continue to rise, but that the pace would slow later this year. He noted more than half of USA consumers use Amazon to search for products over the company's search engine. It posted a loss of $3.02 billion for the quarter due to the $9.9 billion charge tied to changes to the United States tax system. This year Google signed deals with Universal and Sony to carry music videos, and inked a contract with concert-gougers Ticketmaster.

"Overall on Youtube, we're doing a lot to protect the ecosystem", Porat told CNBC in an interview. Robust sales of smartphones and the expansion of online advertising pushed up revenues. There are some options here for the company, though.

Google CEO Sundar Pichai recently declared that artificial intelligence fuelled by powerful computers was more important to humanity than fire or electricity. "These bets have enormous potential, and already they are showing real momentum and gaining traction", he said on a conference call.

Apple posted almost 88.3 billion dollars in sales.

Google's hardware business has seen a very positive result, and these products range from Pixel smartphones, Google Home speakers and more, plus the money coming from the Google Play Store. Doing simple multiplication, that means cloud computing could be a $4 billion business for Google annually.

Microsoft's Azure cloud revenue shot up by 98% to help generate $7.8bn for Redmond's "Intelligent Cloud" group. Compared to 2016, that's up 23%. This quarter it is at $4.6 billion, compared to $3.4 billion the same quarter previous year.

Alphabet (NASDAQ:GOOG) declared that its board has approved a stock buyback program, which allows the company to repurchase $8.59 billion in shares on Thursday, February 1st, EventVestor reports.

Updated, 11.07am, 2 February 2018: This article was updated to correct mistaken figures. He replaces Eric Schmidt, who announced his departure from the role in December 2017.

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