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$GOOGL $GOOG intends to use cash primarily to support organic growth. The stock repurchase program has been extended to 8.6Bil more Class-C shares. The primary areas of investment will be machine learning, Cloud, Search and YouTube. In 4Q17, the company forged partnerships with Cisco, Salesforce and SAP for Cloud, G-Suite and Analytics services.
$GOOGL $GOOG said it expects traffic acquisition costs to continue to increase in near term, reflecting the growing strength in mobile search. In 2Q18, products of home gadget division Nest were launched in 12 new countries. During the quarter, Waymo, the fleet of fully-automated self-driving cars, surpassed 4MM miles of driving on public roads.
Search service giant $GOOG $GOOGL incurred a heavy tax-related charge in 4Q17, and slipped into the negative territory. Contrary to expectations, Alphabet reported a loss of $4.35 per share, triggering a sharp fall in the stock price. Strong advertisement revenues lifted the topline by 24%. Other Bets remained in loss, despite a rise in revenues.
$MSFT to acquire Pittsburgh-based data storage firm Avere Systems. The transaction terms were not disclosed. Microsoft believes that the addition of Avere Systems will add value to its cloud computing platform Azure and its customers. In March 2017, Avere closed a $14MM Series E funding in which $GOOG was one of the investors.
“Eric Schmidt, Executive Chairman of the board of directors of $GOOG $GOOGL, has decided to step down. He will take up the role of Technical Advisor to the firm. Schmidt, who has been serving Alphabet for the past 17 years, will continue to serve on its Board. It is expected that the Board will appoint a non-executive chairman at the next meeting.”
Responding to the growing 'search' interest in finance, $GOOGL $GOOG has added a Finance tab to its Search menu, making it easier for users to access finance information. The new tab brings information the same way as Google Finance does. The revamped search page also allows users to track performance of the stocks they follow, and related news.
$CRM signed a partnership with $GOOGL to support its growing global customer base. The company would use $GOOG's cloud platform G Suite, to support its growing customer base. Additionally, $GOOG will also offer eligible $CRM customers G Suite licenses for a year at no additional cost. The partnership will also integrate $CRM with Google Analytics.
$GOOGL $GOOG plans to boost investments in marketing in the coming quarters to promote its hardware products. Google expects to leverage its machine learning capabilities to expand the customer base of Cloud. The company sees its innovations supported by machine learning, such as Lens, adding to customers’ search experience in the long term.
During 3Q17, $GOOGL $GOOG launched the new Android 8.0 and released a preview of ARCore, which brings augmented reality to Android phones. Google, which remains an information company at core, has started a partnership with $CSCO for an open solution that gives easy access to Cloud. YouTube Red is on track to release 40 original shows this year.
$GOOGL $GOOG said its 3Q17 earnings benefited significantly from ‘Other’ revenues generated by Cloud, Play and hardware, in addition to mobile advertising. There was a positive currency impact of $255MM on revenues. The most sizable headcount addition was made in Cloud. Going forward, the company sees a huge potential for its Other Bets business.
$GOOGL $GOOG, the Alphabet company that redefined internet search, reported a 33% rise in 3Q17 profit as revenues advanced 24% to $27.8Bil on the back of strong mobile advertising. Earnings per share climbed to $9.57 from $7.25 last year, beating expectations. Strengthening the topline growth, paid clicks on Google properties grew by double digits.
With the major chunk of its revenue coming from advertising sales, the Google segment of $GOOGL $GOOG registered a 23% annual growth in third quarter revenues to $27.5Bil. Though revenues of the Other Bets segment increased 53%, the troubled division continued its losing streak. There was a 47% growth in aggregate paid clicks during third quarter.
A year after launching the Pixel smartphone, $GOOGL $GOOG came out with its revised versions – Pixel 2 with a 5-inch screen and Pixel 2 XL with a 6-inch screen. Pixel 2 is available in blue, black and white, while the XL comes in two shades - black and black-white. The Pixel boasts of a powerful battery that gets 7 hours’ charge in 15 minutes.
$GOOGL $GOOG launched its revamped smart speaker Google Home Mini at the much-awaited hardware event. The new feature, the 360-degree surround sound, makes the new Home audible from all parts of the room. Mini will be available in all countries where it is currently available. Pre-booking starts on October 4, and shipping will begin on October 19.