Alphabet Inc. was originally founded as a search engine company in 1998 under the name Google Inc. Since then, Google has become the world’s most popular search engine, with an 87% share of the global search market. The company has diversified far beyond search engines in the past two decades. It reorganized in 2015 and created the holding company Alphabet Inc. The parent holds Google, its largest subsidiary, and a number of other companies. Alphabet is listed on the Nasdaq exchange under the ticker symbols, GOOGL (Class A) and GOOG (Class C).
Alphabet earns revenue through the Google Search engine, YouTube, Google Play, Google Cloud, Chrome browser, and Android mobile operating system. In addition, the company has made considerable investments in the Stadia cloud gaming system, Waymo self-driving vehicles, and other technology initiatives.
Alphabet competes with companies that provide online platforms for connecting people with information and relevant advertising, digital content and application platforms, enterprise cloud services, and more. Major competitors include Amazon.com Inc. (AMZN), Microsoft Corp. (MSFT), Apple Inc. (AAPL), Facebook Inc. (FB), Alibaba Group Holdings Ltd. (BABA), and others.
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Alphabet’s Latest Developments
- On October 29, 2020, Google parent Alphabet posted Q3 2020 EPS that beat analysts’ estimates by a wide margin. Both total revenue and cloud revenue also surpassed expectations. Net income, revenue, and cloud revenue all rose compared to the year-ago quarter driven by increased advertising spend. “Total revenues of $46.2 billion in the third quarter reflect broad based growth led by an increase in advertiser spend in Search and YouTube as well as continued strength in Google Cloud and Play,” said CFO Ruth Porat.