Alphabet Shares Sag and It's Not All About Taxes

03 February, 2018, 09:57 | Author: Natasha Holloway
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"In fact, we believe that Google Cloud Platform, based on publicly reported data for the twelve months ended December 2017, is the fastest growing major public cloud provider in the world".

Alphabet generated $110.9bn in full-year revenue for 2017, up 23pc from 2016 and breaking the $100bn mark for the first time in the company's history.

Google offering more to its partners via higher TAC suggests that even large companies see the need to lower their programmatic "tech tax". Google segment revenues totaled $31.9 billion, up from $25.8 billion a year ago, while Other Bets revenues grew to $409 million from $262 million a year ago. Google released several new hardware products last fall like the Pixel 2 smartphone and Google Home Mini speaker that contributed to Other revenues.

And, the cloud isn't the only area where Google lags Amazon, he says.

"We're in deals now - we can support being in those deals", Diane Greene, CEO of Google Cloud, said in an interview.

"Now we can handle any type of enterprise - any kind of regulated [company]", he said. Unlike many online publications, we don't have a paywall or run banner advertising, because we want to keep our journalism open, without influence or the need to chase traffic. The company will also be making significant investments in offices across nine states, including Colorado and MI, and is slated to open five new data centers.

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Google Other is made up of non-advertising businesses that comprise of Google Cloud the hardware and Google Play, app store.

Beyond ads, Alphabet posted some strength in its other divisions - although not yet from its more ambitious units like self-driving cars.

For comparison, Alphabet reported $27.72 billion in revenue and $6.73 billion in net income last quarter.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, February 1st. Analysts surveyed by FactSet had estimated $9.98 a share on revenue of $25.57 billion, excluding TAC.

Though the numbers heightened concern about the profitability of the company's main business, executives sought to reassure investors that Google would quickly tame its distribution bills. Alphabet Inc (GOOGL) said that the tax reform bill resulted in a $9.9 billion additional tax expense in Q4 2017 for the one-time tax on overseas earnings to be repatriated.

Alphabet noted that it was hit with a tax expense of $9.9 billion in the fourth quarter of 2017 related to recent U.S. tax reform. Alphabet had a net margin of 19.49% and a return on equity of 13.66%.



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