Google’s new parent, Alphabet, sent a tingle up the spine of investors on Monday after reporting fourth quarter earnings that exceeded expectations. The good news sent its share price skyward, resulting in a market valuation that surpassed Apple, which for years has been the most-favored technology firm on Wall Street. Alphabet reported adjusted earnings of $8.67 per share, compared with $6.76 in the year-ago quarter, beating analyst estimates of $8.10 per share.
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Alphabet Leapfrogs Apple to Top of the Heap
Posted by: David Jones February 3, 2016 07:00 AMGoogle’s new parent, Alphabet, sent a tingle up the spine of investors on Monday after reporting fourth quarter earnings that exceeded expectations. The good news sent its share price skyward, resulting in a market valuation that surpassed Apple, which for years has been the most-favored technology firm on Wall Street. Alphabet reported adjusted earnings of $8.67 per share, compared with $6.76 in the year-ago quarter, beating analyst estimates of $8.10 per share.