Profit jumps despite EU fine

Article Excerpt

ALPHABET INC. (Nasdaq symbols GOOG $1,264 [class C: non-voting] and GOOGL $1,276 [class A: one vote per share]; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 694.5 million; Market cap: $877.8 billion; Price-to-sales ratio: 7.4; No dividends paid; TSINetwork Rating: Above Average; www.abc.xyz) is the parent company of Google’s Internet search business (still called Google) and other operations (called “Other Bets”). Each of these operations functions independently. In the three months ended June 30, 2018, Alphabet’s revenue jumped 25.6%, to $32.7 billion from $26.0 billion a year earlier. Revenue for Google (99% of the total) gained 25.5%. The increase was mostly due to a 23.9% rise in advertising revenue. Revenue from Other Bets (1% of revenue) jumped 49.5%. Earnings in the quarter rose 32.0%, to $11.75 (or a total of $8.3 billion) from $8.90 a share (or $6.3 billion). The latest earnings exclude a $5.1 billion fine imposed by European anti-trust regulators. They feel Google’s policy of forcing mobile phone makers to install several of its apps alongside…

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