Thursday, 23 March, 2017

Alphabet Profit Misses Analyst Estimates on Cloud Costs, Tax

Mike Hodges | 27 January, 2017, 06:19

Profit before certain items was $9.36 a share.

Alphabet's overall sales for the quarter topped $26 billion, a gain of 22% from a year earlier.

Not reported separately, Google's hardware sales are grouped together with Play Store sales, enterprise efforts, and more in "Other Revenues". Digital marketing firm Merkle said Google received 96% of all search-ad clicks on mobile devices in the fourth quarter.

Outside of the core Google business are Alphabet's "Other Bets", the separate companies exploring ambitious new businesses, from self-driving cars to drones.

Pacific Crest assumed coverage on shares of Alphabet Inc.

Incidentally, shares of Alphabet are now down almost 2% in after-hours trading. Alphabet makes up 5.3% of Montag & Caldwell LLC's holdings, making the stock its largest position.

The company's consolidated revenue rose to US$26.06 billion above the average estimate of US$25.26 billion.

Super Bowl LI half set following NFC Championship
While the Patriots are known for their offense, they are the best in defense this season by giving up 15.6 points per game . By the end of the play, seven Steelers were trying to gang tackle Blount, who finally went down at the 1-yard line .

For the quarter ending in December, the company formerly known as Google earned $9.36 per share versus expectations of $9.63. One concern with the growth in voice search is that Google won't be able to sell ads against it like it can with search on mobile or desktop.

Google's costs-per-click - the amount it gets from advertisers- fell 16 percent year over year, more than the 11 percent expected by StreetAccount estimates. Operating income for the subsidiary was $7.883bn, with "Other Bets revenues" coming in at just $262 million; however, "Other Bets" had an operating loss of $1.088bn.

Alphabet ended 2016 with $86.3 billion in cash, up from $73 billion a year ago. That is a significant jump, up 62 percent from this time previous year.

"We see tremendous potential ahead for these businesses, as well as in the continued development of non-advertising revenue streams for YouTube", Porat said on a call with investors.

Most of the analyst questions surrounded three areas: mobile/voice search, YouTube ads and non-ad YouTube revenue and expenses that were higher than expected.

According to TipRanks, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Thomas Allen and David Bain have a yearly average loss of 4.0% and a return of 6.5% respectively. A few Other Bets companies have put products on the market-smart-home-technology company Nest and broadband internet provider Fiber-but neither has driven noticeable revenue.

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