Alphabet is Now the World’s Most Valuable Company
Cernescu Andrei / 3 years ago
Up until recently, Apple was considered to be the world’s most valuable company, as it featured a market cap of no less than $538 billion. However, recent developments have put Google’s parent company, Alphabet, at the top of the list thanks to a sudden surge in share prices. Alphabet now has a market cap of around $550 billion, which officially makes it the most valuable company in the world. However, it’s worth pointing out that we are talking about after hours trading, which means that these figures might not remain the same for too long. Getting into specifics, Alphabet has recently revealed its Q4 2015 financial results, which recorded $21.3 billion in revenue as well as $4.9 billion in profits.
This means that Alphabet’s revenue and profits went up 18 and 5 percent respectively on a year-on-year basis, which is why its share prices also went up by six percent in after-hours trading. This is not the first time that Google has surpassed Apple like this, but the last time this happened was all the way back in 2010. The Cupertino-based company still boasts an all-time market cap record of $774 billion, which will be very difficult to surpass even by Alphabet. Even though its profits are undeniably impressive, the company is still losing money on investments such as Nest, Google Fiber, X, GV and Verily, all of which have drained $3.56 billion in 2015.