Alphabet profit slides in Q3, amid Fitbit takeover rumours

Nieuws Breedband Wereld 29 OCT 2019
Alphabet profit slides in Q3, amid Fitbit takeover rumours

Alphabet reported more strong revenue growth in the third quarter, but also lower profit figures. CEO Sundar Pichai said the company made progress across the board, from recent advancements in search and quantum. Revenues rose 22 percent from the year before in constant currency to USD 40.499 billion, boosted by mobile search, YouTube and Cloud. The net profit meanwhile fell to USD 7.068 billion from 9.192 billion, with diluted earnings per share declining to USD 10.12 from 13.06.  

Google Segment revenues again made up the bulk, going higher to 40.344 billion from 33.594 billion, while revenues from Other Bets, which inludes self-driving car unit Waymo, lifted to USD 1.55 million from 146 million. The operating profit for Google improved to USD 10.865 billion from 9.460 billion while at Other Bets, the loss widened to USD 941 million form 77 million. 

Looking ahead, CFO Ruth Porat said the company will continue to invest in talent and infrastructure to support its growth, particularly in newer areas such as cloud and machine learning. The CFO declined to comment on reports from Reuters that the company was looking to buy Fitbit. Sources said that talks were ongoing between Google and Fitbit, but did not disclose any financial info.

Categories:

Internet,  Mobiel

Companies:

Google,  YouTube,  Fitbit,  Alphabet

Regions:

Wereld

Tags:

Sales figures, Financial figures

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