Alphabet has reported stronger-than-expected advertising sales and higher operating margins, driving shares up in after-hours trading as investors brushed off concerns about higher costs for acquiring mobile customers.
The company’s shares were up nearly 3 per cent at US$1020 (NZ$1492) after the bell. They have gained 25 per cent this year.
Third-quarter revenue for Alphabet, the parent company of Google, jumped 24 per cent to US$27.8 billion, above the average analysts’ estimate of US$27.2b. Profit of US$6.7b was well ahead of Wall Street estimates.
Alphabet, along with much of the tech sector, has enjoyed torrid growth in recent years as advertising moves from traditional media to the internet and consumers flock to an ever-expanding array of digital devices.
from Eve’s Feed http://www.stuff.co.nz/technology/98292655/Alphabets-mobile-advertising-revenue-surges-shares-jump
from
https://evewilki1971.wordpress.com/2017/10/27/alphabets-mobile-advertising-revenue-surges-shares-jump/
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