Alphabet surges past $100bn in annual revenues

Google parent reports quarterly loss due to one-time tax charge

Google reported soaring sales of expensive online ads. Photograph: Reuters

Google reported soaring sales of expensive online ads. Photograph: Reuters

 

Google parent Alphabet surged past $100 billion (€80 billion) in yearly revenue powered by soaring sales of pricey online ads, but reported a fourth-quarter loss due to a $9.9 billion one-time tax-related charge.

Alphabet on Thursday reported a net loss of $3.02 billion or $4.35 per Class A and B share and Class C capital stock in the quarter ended December 31st, compared to a profit of $5.33 billion or $7.56 per share a year earlier.

Alphabet was down over 4 per cent in extended trade after its quarterly release as the numbers initially disappointed.

The technology giant employs more than 7,000 people in Ireland and recently confirmed the lease of an additional 51,000 sq ft of office space near its EMEA headquarters in Dublin’s docklands, along with plans to set up an Irish team to support its cloud business.

– Reuters