Capitalization of the holding company Google is approaching $700 billion
San Francisco. 27 Oct. INTERFAX – Profit and revenue are U.S. Google Inc., holding company Google in the third quarter of 2017 is far larger than the market expected.
The price of the company’s securities in electronic trading rose nearly 3%. With the beginning of the year capitalization of the company grew by 25%, to $679,9 billion If the trend continues early in the session, capitalization of Google could exceed $700 billion; previously to overcome this mark could only Apple.
According to a press release from the Alphabet net profit in July-September rose to $6,73 billion, or $9,57 per share, compared to $5,06 billion, or the $7.25 per share, for the same period a year earlier.
The holding company’s revenue last quarter jumped by a quarter, from $22,45 billion to $27.8 billion.
Analysts at wall street on average had forecast adjusted profit Alphabet $8,31 per share with total revenue of $26.9 billion
The revenue of Google rose to $27.5 billion from $22,25 billion the Lion’s share of revenues accounted for revenue from advertising, which increased to $24.1 billion from $19.8 billion
The operating profit of the division increased from $6.77 billion to $billion is 8.74
The company’s expenses surged in July-September to almost $20 billion from $16,68 billion in the same period a year earlier. Including expenditures for new equipment increased by $1 billion to $3.5 billion.
However, cash and cash equivalents at the end of September rose to more than $100 billion to $86 billion.