On Monday Alphabet became the world’s most valuable publicly traded company by knocking off Apple Inc. off it's position.
Alphabet was created in 2015 as the parent company of Google and several other companies previously owned by or tied to Google. Some of its subsidiaries include Google, Calico, GV, Google Capital, X, Google Fiber and Nest Labs.
The company smashed expectations on both ends, bringing in $21.3 billion in revenue and earnings of $8.67 per share. Analysts were expecting earnings of $8.09 on $20.8 billion in revenue.
Alphabet became the most valuable publicly-traded company in the world — coming in at a market cap $558 billion after jumping about 8% after the company reported its fourth-quarter earnings, and passing Apple, which sits at a market cap of $535 billion.
“Our very strong revenue growth in Q4 reflects the vibrancy of our business, driven by mobile search as well as YouTube and programmatic advertising, all areas in which we’ve been investing for many years,” CFO Ruth Porat said in a statement with the earnings report.
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