Google Stock Is a Better Deal Than It Looks

Bulls Look to Alphabet Results to Keep Tech Stock Rally Going

Alphabet Inc reported sharply higher fourth-quarter spending on video content, employees and facilities, worrying investors who sent the tech company's shares down about 3 percent after hours on Monday.

Yet Alphabet continues to deliver strong top-line growth, which is impressive considering that its revenue base was $137 billion a year ago. The company's operating margin fell to 21% in the fourth quarter from 24% in the year-earlier period.

Alphabet, the parent company of Google, said its total revenue for the final three months of 2018 was $39.3 billion, an increase of 22% from the same period a year earlier, according to a company earnings report released Monday.

The company also generated annual revenue figures totalling $136.82 billion United States dollars (roughly $179.46 billion CAD) in 2018 - a year-over-year growth of 23 percent compared to 2017.

Manchester United vs. Leicester City
The Red Devils face hard upcoming fixtures against the likes of Liverpool on February 24, as well as a two-legged Champions League tie against PSG.

The valuation doesn't reflect Alphabet's net cash of $105 billion, or about $150 a share, and includes the losses in the company's nascent "other bets" businesses such as Waymo, the leader in autonomous-driving technology. The latter figure rose to $1.328 billion from last year's $748 million while TAC rose by a percent to $7.436 billion.

The downside is average ad prices are shrinking as Google serves more commercial messages through computerized placements and on YouTube - both of which tend to have lower prices than Google's traditional desktop PC web search messages. That means Google places many more commercial messages in more places, people are surfing Google hangouts more, and the ads are generating results for the companies that buy them. And it would be short-sighted to count Google out, though Amazon and Microsoft's businesses are larger.

Google CEO Sundar Pichai didn't share any concrete sales numbers, but told investors during the company's earnings call on Monday afternoon that it had sold "millions" of devices during the quarter. Alphabet's quarterly earnings call just started, and we'll be listening for more details on the successes Google found in its hardware and services business as well as what drove the losses for other bets. A big chunk of that was the HTC phone team it acquired previous year to design and build its own handsets.

Alphabet's report follows a big earnings week from industry heavyweights such as Apple Inc. Little is known about the finances of YouTube, Google's homegrown smartphones and other hardware, its cloud-computing operation, and potentially promising experiments such as driverless cars. Other bets lost $1.3 billion, up a whopping 78 percent over the 748 million the group lost a year ago. We are very open to acquisitions, ' said Porat.

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