B for buyback and E for earningS, these are some of the most appropriate letters for Google's parent company, Alphabet, as it reported Thursday how much it made in the third quarter.
Venture Beat reported that Google raked in $18.7 billion in revenue and $7.35 earnings per share during the third quarter.
These figures are quite close to the $18.53 billion forecast from influential analysts.
Meanwhile, Google exceeded these analysts expectation of $7.21 earnings per share. Google made a significant growth from its 2014 third quarter earning of $16.52 billion in revenue, and $6.35 earnings per share.
Besides this amazing performance under Alphabet, its new parent company, it will also buy back over $5 billion worth of its Class C stock in the fourth quarter.
According to USA Today, the buyback is the first time that Google returned its wealth to its shareholders ever since it was a publicly traded company 11 years ago.
In the last quarter, Alphabet Chief Financial Officer Ruth Porat hinted that the company might distribute $73 billion in cash back to its shareholders in the form of dividends or through repurchasing stocks.
Meanwhile, in Record Net, since stocks are bullish, there are no suggestions to sell. Wall Street analysts studying Google are very optimistic with the company's share. All 14 out of 14 research notes are saying "buy" or "outperform" or "overweight" the ratings on the stocks.
Venture Beat reported that Alphabet will make Google more transparent, and may provide investors a deeper look into Google's major money making machines, like Nest, Fiber, and Google Ventures.
These transparencies may reflect on its fourth quarter earning report. Now, Google should work on growing its mobile search business, limiting its expenses on ambitious projects, and revealing profitable opportunities for services such as YouTube.
Meanwhile, Google has not yet reversed the downward motion of its cost-per-click. Alphabet has also spent record-high amounts on research and development.
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