Alphabet surpasses Apple as world's most valuable companyFebruary 2, 2016 - 09:19 AMT PanARMENIAN.Net - Alphabet - Google's parent company- has surpassed Apple as the world's most valuable company after its latest earnings report, according to BBC News. The company made a profit of $4.9bn for the fourth quarter, an increase from $4.7bn a year ago. The announcement sent its share price up as much as 9% in after-hours trading. That means that Alphabet is now worth around $568bn, compared with Apple, which has a value of $535bn, the BBC says. It is the first time that Alphabet has separated out the results of its Google business - which includes the search engine and YouTube - from its "Other Bets" business, which includes more experimental ventures such as self-driving cars and internet balloon programs. On an annual basis, Alphabet made $16.3bn but the figures show that the "Other Bets" business lost $3.6bn during the period, while Google's operating income rose to $23.4bn, as online advertising increased. "It looks like Google continues to execute on mobile [advertising]," said Neil Doshi managing director of research at Mizuho Securities. "Two or three years ago mobile was a big head wind for Google. There were concerns that it [had] a negative impact on its desktop business, but as mobile takes over for more searches, mobile ads are becoming closer in value to the desktop ads." Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Kazakh Foreign Minister arrives in Armenia Kazakh Foreign Minister Murat Nurtleu on Monday, March 18 arrived in Armenia for a two-day trip. Aliyev touts “good chances” for normalizing ties with Armenia Azerbaijani President Ilham Aliyev has declared that there are “good chances” for normalizing relations with Armenia. Putin secures fifth term as Russian president Russian President Vladimir Putin has secured a fifth term in office through a dubious national plebiscite. Top Armenian, Indian defense officials discuss cooperation The discussions primarily focused on enhancing cooperation in the defence sector between Armenia and India. |