Revenue from Google’s cloud service rose 53% to $2.6 billion in the quarter and advertising on YouTube rose 31% to $4.7 billion.
But new concerns have emerged among investors about whether its dominance will last as US antitrust regulators investigate Google and as Amazon.com Inc and Facebook Inc continue to grow their ads businesses globally. Google ad sales in the holiday shopping quarter were $37.93 billion, up 16.7% from the same period last year, while Google’s “other” revenue bucket including app store purchases and cloud computing deals rose 21.6% to $7.88 billion.“The stock was priced for perfection, and a top-line miss was enough to send it lower,” said Michael Pachter, analyst at Wedbush Securities. “YouTube was impressive at $15 billion for the year, Cloud less so at $8.9 billion.
For the fourth quarter, Alphabet’s total costs and expenses rose 18.5% from a year ago to $36.809 billion. In December, Pichai gained the additional role of Alphabet CEO from Larry Page as he and fellow co-founder Sergey Brin stepped back even further from day-to-day management. Shares of Alphabet are up 28.1% in the last 12 months entering Monday, compared with 21.8% for Facebook shares, 23.5% for Amazon, 68.1% for Microsoft Corp and 88.7% for Apple IncAlphabet Chief Financial Officer Ruth Porat said the outbreak of a new coronavirus in China could affect the company’s hardware business if it leads to protracted work stoppages in Asia.
Source: News Formal (newsformal.com)
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