Despite Cambridge Analytica Scandal, Google Reports Record 2018 First Quarter Earnings

Google CEO Sundar Pichai is set to cash in his shares

Worldwide sales increased to US$31.1 billion in the quarter, above the average analysts' estimate of US$30.3 billion. That's a fraction of the revenue Amazon Web Services pulls in each quarter. Flagship Harbor Advisors LLC now owns 1,696 shares of the information services provider's stock valued at $1,599,000 after acquiring an additional 56 shares during the period. The stock has a market cap of $748,503.63, a PE ratio of 33.50, a P/E/G ratio of 1.15 and a beta of 1.05. Smaller players such as Amazon and Snapchat have seen rapid growth in digital advertising, pushing forecasts of Google and Facebook's collective market share slightly downward to 57 per cent, compared to 59 per cent past year, eMarketer said.

Excluding the investment-related gains and other items, adjusted earnings were $9.93 per share. Alphabet says that's mainly due to research and development spending.

Wieser cut his price target on Alphabet shares to $970 from $1,040, citing worse-than-expected margin compression and capex levels. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-seven have issued a buy rating and one has issued a strong buy rating to the company's stock.

But these looming regulations did not deter Alphabet investors in the first quarter. GM Advisory Group Inc. now owns 905 shares of the information services provider's stock valued at $841,000 after purchasing an additional 4 shares during the period.

Ives rates Alphabet stock Highly Attractive, while reiterating a price target of $1,280, which implies a 19% upside from Monday's closing price.

A sweeping new data protection law, called General Data Protection Regulation (GDPR), is set to take effect across the European Union next month. Stock repurchase plans are usually a sign that the company's leadership believes its stock is undervalued. The original version of this story can be read at https://macondaily.com/2018/04/23/alphabet-inc-goog-holdings-lifted-by-garner-asset-management-corp-updated-updated-updated.html.

Alphabet's first-quarter growth comes amid the backdrop of impending privacy regulations in Europe and possibly the United States. If you are accessing this story on another website, it was copied illegally and republished in violation of USA & worldwide copyright laws. Finally, KLCM Advisors Inc. purchased a new position in shares of Alphabet during the second quarter worth about $219,000.

Analysts had projected Alphabet's revenue numbers to be slightly lower, so the stock initially shot up in after-hours trading. The company offers performance and brand advertising services. On a call with analysts in February, finance chief Ruth Porat blamed the rise in these costs on mobile search and so-called programmatic ads, where Google places ads on partners' content-which carry higher fees. It's no longer in "other bets", Google's so-called "moonshot" projects such as the self-driving vehicle unit Waymo, Google Fiber internet service and Verily life sciences unit, which report first-quarte revenue of $150 million and an operating loss of $571 million.

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