The name Alphabet might not ring a bell, as its subsidiary Google. Regardless, Alphabet still is the parent company of Google, and they are making a headlines favourable to investors.
Alphabet recently posted its quarterly earnings, the company’s market capitalization (a measure of value based on the price of outstanding shares) has surpassed that of Apple. This is the first time since 2010, Google (now under Alphabet) has valued more than Apple. This lead is probably temporal considering the flux state of share value, however, it’s worth noting.
Alphabet surpassed expectations with a revenue of $17.3 billion and $8.67 earnings per share. Alphabet currently has a total market cap at over $550 billion, while Apple has a market cap of $538 billion. The parent company also recorded loses in the non-Google divisions of its business, the “Other Bets” as it was described. The loss for those bets totaled about $3.5 billion for 2015, but the company’s $23 billion or so profit for the same period, took the shine off it.
Read recent Google news