Google's parent company, Alphabet, reported better-than-expected fourth-quarter results. But after the trading session, its shares fell: Alphabet 179.00 (-1.53%) .
In the second quarter of this year, the income of this information technology giant reached 84.742 billion. dollars, and it was expected to amount to an average of 84.19 billion. dollars. Compared to the same period a year ago, they rose by about fourteen percent.
Alphabet's operating profit rose by a quarter to 27.425 billion. dollars, and net profit – 28.6 percent to 23.619 billion. dollars or up to 1.89 dollars per share.
The market expected that the quarterly profit per share will reach an average of 1.84 dollars.
"Our strong results this quarter highlight the continued strength of search and cloud momentum." We innovate at every level of artificial intelligence. Our long-standing infrastructure leadership and in-house research teams position us as technology evolves and we pursue the many opportunities of the future," said Sundar Pichai, the company's CEO.
In total, after the first half of this year, Alphabet's revenue reaches 165.281 billion. dollars, while a year ago in the same period it amounted to 144.391 billion. dollars, or 14.5 percent more. Operating profit rose nearly thirty-five percent to $52.897 billion. dollars, and net profit – 41.5 percent to 47.281 billion. dollars.
In the last one year, the market value of the mentioned company jumped by almost fifty percent, and since the beginning of this year – by 31.6 percent.
