Alphabet’s Sales came in at $29.5 billion, excluding payments to distribution partners, Alphabet said in a statement on Monday. Wall Street was looking for $30.04 billion, according to the average of analysts’ estimates compiled by Bloomberg.
Google Chief Financial Officer Ruth Porat blamed some of the growth decline on currency fluctuations. In an interview with Bloomberg TV, she also shrugged off Amazon’s foray into advertising and said there’s still lots of room for growth for all digital ad companies because so much marketing money is still spent offline.
Ad revenue growth was solid on mobile, but barely present on desktop and tablets, according to data gathered by digital marketing agency Merkle. That contributed to the overall slowdown, Merkle’s associate director of research Andy Taylor said. Net income was $6.66 billion, or $9.50 a share, versus $9.4 billion, or $13.33 a share, a year earlier, the Mountain View, California-based company said. The latest results were dented by a $1.7 billion European Commission fine for antitrust violations. Excluding that, profit was $11.90 a share.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Newsdeck: Alphabet’s Drone Delivery Business Cleared for Takeoff by FAAAn offshoot of Alphabet Inc.’s Google has become the first drone operator to receive government approval as an airline, an important step that gives it the legal authority to begin dropping products to actual customers.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Asian shares up after Nasdaq, S&P 500 hit record highsEquity markets in Asia rose on Wednesday morning after upbeat earnings helped the Nasdaq and S&P 500 indexes reach record closing highs on Wall Street overnight, while oil retreated from its near six-month highs.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: The spectre of Stagflation is haunting South Africa and the alternative is also scarySouth Africa's economy does not have a lot in its favour at the moment. Relatively moderate inflation in recent years has been one of the few bright spots. Even this has been a mixed blessing as it partly stems from subdued demand. This could change soon, with price pressures unrelated to consumption building in the economy. Against the backdrop of anaemic growth and sky-high unemployment, this could unleash the spectre of stagflation. And if prices do remain subdued, it is only because of the dire state of the economy.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Reported Fires Threaten China’s Electric-Car QuestIn China, where the quality and safety of electric vehicles and their batteries have been increasingly called into question, electric cars bursting into flames have underscored longstanding issues with China's electric-vehicle push, writes Adam Minter for Bloomberg Opinion.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK ANALYSIS: Central banks’ musical chairs put independence up for grabsA changing of the guards at central banks around the world at a time when the value of both political and operational central bank independence is up for debate could yield some surprises. History shows these can be pretty dramatic as tensions run high between presidents and bank governors.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Cosatu Urges Mboweni to Take His Own Advice and RetireSouth Africa’s largest labor federation wants Finance Minister Tito Mboweni to practise what he preaches and retire. That may not be because he’s too old, but rather that they just don’t like him. They never liked him ,when he was a minister of labor they used to have lot of issues
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Pick n Pay’s Richard Brasher is getting the job doneThe surge in Pick n Pay’s share price and sales suggests that the retailer is returning to its former glory days. Brasher, the Brit who was appointed in 2013 as Pick n Pay CEO, has led the retailer’s spectacular recovery. However, the market wonders if Brasher will remain in the hot seat for another few years to see through the full recovery.
Source: dailymaverick - 🏆 3. / 84 Read more »