Daily Management Review

Alphabet net profit increases by 32% in the first half of 2019


In the first half of 2019, Alphabet Inc. (USA), which owns Google, increased its net profit to $ 16.6 billion, by 32% compared to the same period in 2018, according to the company’s press release.

stockcatalog via flickr
stockcatalog via flickr
Diluted earnings for class A, B and C shares rose to $ 23.71 from $ 17.89 a year earlier. Revenue rose 18% to $ 75.283 billion

By June 30, 2019, 107,646 people worked in the company.

Alphabet also announced that its board authorized the purchase of its Class C common stock for $ 25.0 billion.

Alphabet gets most of its company-wide sales from Google’s advertising business.

Google’s second-quarter advertising sales totaled $ 32.6 billion, an increase of 16% compared with last year and slightly ahead of consensus expectations of $ 32.58 billion, based on estimates made by Bloomberg.

Accelerating Google’s ad sales growth helped to allay concerns about the constant slowdown in Alphabet’s core business. Previously, Google’s ad revenue declined year on year in each quarter, starting in the second quarter of 2018.

Alphabet shares rose by 7.41% after the publication of reports.

source: bloomberg.com