Alphabet kicked off a big week for tech earnings as the industry starts to look ahead to a post-pandemic economy by reporting a characteristically strong start to 2021.
Google’s parent company reported revenues of $55.3 billion for the first three months of the year — a 34% jump from the same period last year — and made close to $18 billion in profit, comfortably blowing past analyst estimates. It also announced a $50 billion stock buyback.
The company’s stock jumped nearly 4% in after-hours trading on Tuesday.
Today after the bell, Alphabet, parent company of Google, reported its Q1 2020 performance. The company’s $41.16 billion in revenue for the three-month period came in ahead of expectations, besting analyst estimates of $40.33 billion. However, its earnings per share came in under expectations, with the street anticipating $10.38 in per-share profit, while Alphabet delivered a slimmer $9.87 in per-share income.
Shares of Alphabet rose around 2.8% in after-hours trading after shedding 3.3% in regular trading.
It is touted as a unique opportunity to build a smart city within a major city, literally from the ground up. Environmental remediation, new infrastructure, digital electrification plans, new-age mobility options — the whole shebang.
If only people would stop complaining about privacy issues.
Up in Toronto, Canada’s largest city, there’s been much ado about what will happen to all the data that the future Sidewalk Toronto project will generate. The focus of the debate has been, predictably, Alphabet (Google’s parent company) whose Sidewalk Labs is the primary partner in the project. And yet, for all the sturm und drang about personal information, not a single spade-full of dirt has been spilled yet.
There are few stories as important right now as the internet being ripped asunder by the increasing animosity between the U.S. and China. Eric Schmidt, the former chairman of Alphabet, said last week at a private event in San Francisco that “I think the most likely scenario now is not a splintering, but rather a bifurcation into a Chinese-led internet and a non-Chinese internet led by America.”
Japanese tech giant SoftBank is acquiring robotics company Boston Dynamics from Alphabet for an undisclosed sum.
Boston Dynamics is best known for the videos it periodically posts on its YouTube page featuring its latest and strangest walking robots. Each video would quickly rack up millions of views.