Alphabet’s ad sales surge in Q1 2018
Alphabet’s ad sales surge in Q1 2018, but so do costs. Strong growth in ad sales on Google search and YouTube were not enough to offset a surge in costs at parent Alphabet that shrank the first-quarter operating margin, leaving shares flat after hours on Monday. Alphabet got a boost from how it values investments in Uber and other startups. That accounting change and a one-time benefit cut its effective tax rate nearly in half.
Investors are uncertain about future profit at Alphabet as the company navigates the move to a phone-based computing world and invests in small, fast-growing initiatives from self-driving cars to selling hardware and cloud computing services. The quarterly results did not clarify the outlook. Read more here.
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