Digital ads lift Google but shares hit by costs

Bulls Look to Alphabet Results to Keep Tech Stock Rally Going

Bulls Look to Alphabet Results to Keep Tech Stock Rally Going

Google continued to plow the profits from its search advertising business into cloud computing capacity and headcount during the fourth quarter of 2018, as its cloud business enters a new era under a new leader. And yet the company's stock still slid in after-hours trading.

The company's profitability remained robust as its operating income rose 21 percent to 8.2 billion dollars over the previous quarter.

Alphabet also updated its warning about an expansion into non-advertising businesses like cloud services and consumer hardware.

Google and Facebook ads are still more relevant and effective than most other options because the companies collect so much information on activity across the internet and beyond.

Costs were also pushed higher by hiring, mostly for the cloud business, she added during a conference call with analysts. 1 The number of new employees - excluding contractors and the like - jumped 23 percent in a year to almost 100,000.

And, while video-sharing platform YouTube contributed strongly to revenue, the amount of money spent on content for its ad-supported and subscription offerings grew, according to Porat.

FILE PHOTO - The Google name is displayed outside the company's office in London, Britain November 1, 2018. At the time, Dave Vellante, chief analyst at research firm Wikibon and co-CEO of SiliconANGLE Media Inc., said Kurian brings "the ability to prioritize, focus resources and move fast when things change". Earlier, they closed at $1,141.42 in regular NY trading. That was the same growth rate as reported for last year's fourth quarter, which worries some analysts.

Meghan Markle wrote messages on bananas to sex workers
And she made headlines after leaving sweet notes for vulnerable sex workers being helped by a United Kingdom charity. She wrote empowering messages of support on bananas as she joined her husband on a visit to a sex worker charity.

Alphabet swung to a profit of $8.9 billion, up from a $3 billion loss in the same period a year ago due to the effects of a new federal tax law.

One stunning number is telling about Google's effectiveness as a business. When shoppers hunt for holiday gifts, they often use Google's search engine, letting the company send them targeted product ads based on those queries. The global market for advertising appears to be finite, and Google and Facebook already grab a large share of spending.

"For a growth company, investment should be applauded", said Atlantic Equities analyst James Cordwell. And these are very much bets - it lost $3.4 billion on Other Bets in the past year.

Google's parent company Alphabet released its quarterly earnings, beating expectations. New privacy rules in Europe, known as GDPR, may have limited this data harvesting slightly, but that's hit smaller competitors more than the two digital giants. Wall Street was expecting $184 million.

Google's cloud unit is laboring through a management transition as well. Excluding traffic acquisition costs, or ad revenue-sharing payments to partner sites, revenue rose to $31.8 billion.

The other segment of interest in Alphabet's ledger is "other bets", which is where the company lumps all non-Google business. However, those operations showed a $1.3 billion operating loss. Porat said Waymo is having conversations with "a number of cities" about a driverless vehicle service.

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