Alphabet, Google’s parent company is being surrounded by multiple controversies. The employees of Alphabet protest to display their lack of trust in the firm due to its extremism on YouTube to its work in China.
Due to a lot of controversies, analysts estimated that Alphabet would fail to get sales more than $11.30 per share or a total of $38.14 billion but Google’s parent Alphabet surprised them by providing $38.94 billion in sales at the end of June. Google’s parent earned $14.21 per share and shocked the analysts by beating their estimates.
Google’s parent Alphabet posts strong results and shocks the analysts with business growth even after the controversies. The sales of the company’s Pixel phones also doubled in the second quarter. Google also earns more than $8 billion per year from cloud division. The financial performance of Alphabet makes it stand out in the market of competitors.
Alphabet, Google’s parent even after being surrounded by scandals and stepping into new controversies every once in the while, the company still strikes back to the analysts by showing a unique growth in the revenue during the second quarter and still manages to make its platform standout in the market of competitors.
Photo: JHVEPhoto via Getty Images
Read next: Facebook's Q2 2019 revenue result is Highly Impressive with Significant Growth in Monthly and Daily Active Users!
Alphabet still growing even after being surrounded by controversies
Recently, Alphabet faced one of the largest scandals about antitrust scrutiny and different companies reported about its failure to overcome the business failure but it surprised them by recovering in the second quarter of the year.Due to a lot of controversies, analysts estimated that Alphabet would fail to get sales more than $11.30 per share or a total of $38.14 billion but Google’s parent Alphabet surprised them by providing $38.94 billion in sales at the end of June. Google’s parent earned $14.21 per share and shocked the analysts by beating their estimates.
Ways Alphabet-Google’s parent shocked the analysts with the growth
During after-hours trading, the stock of the firm increased to 9 percent. The company invested money into projects that require less or no money for advertisements. During the second quarter, the company’s “Other Bets” division, which is unique with its projects like driverless car spent $1 billion in operating costs instead of $732 million spent a year earlier.Google’s parent Alphabet posts strong results and shocks the analysts with business growth even after the controversies. The sales of the company’s Pixel phones also doubled in the second quarter. Google also earns more than $8 billion per year from cloud division. The financial performance of Alphabet makes it stand out in the market of competitors.
Alphabet soon to work along US Department of Justice
In May it was reported that the Justice Department is prepping for investigation of antitrust on Google’s search practices and other businesses and ultimately the investigation resulted in no violation of antitrust laws. Recently, the US Department of Justice stated that it will be opening an antitrust probe in technology giants which will also include Alphabet to work with and to analyze its market dominance.Response from Google about the controversies
After being surrounded by multiple scandals, Google finally spoke up about the investigations. It stated that all the investigations are understandable and it will be fully co-operating with the Justice departments all the time.Alphabet, Google’s parent even after being surrounded by scandals and stepping into new controversies every once in the while, the company still strikes back to the analysts by showing a unique growth in the revenue during the second quarter and still manages to make its platform standout in the market of competitors.
Photo: JHVEPhoto via Getty Images
Read next: Facebook's Q2 2019 revenue result is Highly Impressive with Significant Growth in Monthly and Daily Active Users!
