Google’s parent company Alphabet reported revenues of $21.33bn for the last three months of 2015, representing an 18 per cent year-on-year rise, in a performance that is set to see it overtake Apple as the world’s most valuable company.
Alphabet’s stock price surged in the immediate aftermath of the quarterly results release, with the Google-parent vastly outperforming earlier analyst expectations. Net profits rose to $4.9bn in the fourth quarter compared to $4.7bn 12 months earlier, with Ruth Porat, CFO of Alphabet, claiming this was based on the back of the strong performance of its mobile and YouTube business.
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Source: The Drum
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