Google CEO Sundar Pichai said that those technologies are “just beginning to scratch the surface.”
“We turned in a strong performance in the third quarter, not withstanding continue meaningful currency headwinds,” Porat said during the company’s earnings call. “The key highlight this quarter was the substantial growth of our mobile search revenue, complimented by ongoing strong contributions from YouTube and our programmatic business.
”“Our Q3 results show the strength of Google’s business, particularly in mobile search. With six products now having more than 1 billion users globally, we’re excited about the opportunities ahead of Google, and across Alphabet,” Ruth Porat, CFO of Alphabet and Google, said in the company’s results announcement.
She said Alphabet will break out revenue, profitability and capital expenditures for both divisions.
“By doing this we expect that you will be better able to understand how we manage the businesses, including the pace and allocation of our investments,” she said.
1) Those currency “headwinds” from a strong U.S. dollar, she said, amounted to a $1.6 billion negative impact on revenues – $1.3 billion after the benefit of the company’s hedging program. In fact, on a constant-currency basis, total revenue for the quarter grew 21 percent year-over-year (instead of the 13 percent reported). – FTA
So the stock went up 11% on news that earnings were 1% better than anticipated, but could’ve been 8% had the Euro not collapsed.
Which is less crazy especially if you think they can keep that up for a while
2) Yeah, FANG is all way overvalued. But I’m not complaining.