Google has finally hit their first $100 billion in annual sales after its founding 20 years ago.
Alphabet posted their forth quarter earning today, and shown a total of USD$110.9 billion in revenue, of which USD$32.32 billion is in profit, earning USD$9.70 per share. But this number is still below the $9.96 per share expectations from the Wall Street.
Alphabet’s stock has since tanked 4% during the after-hour trading, despite Google performing above expectations.
Unsurprisingly, Google’s booming ads business has netted a whooping USD$27.27 billion in pure profit, which helped Alphabet to achieve a 24% year-over-year increase in revenue.
– John Hennessy, Lead Independent Director, Google
The company has also announced that Eric Schimdt, the former Google CEO, is stepping down as the Chairman of Alphabet, and John Hennessy, a longtime member of the board, will take up the role as the new Executive Chairman.
Whether Alphabet will tumble or thrive under their new leader remains to be seen, but for now, the future of the internet giant is still looking Googly bright.
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