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Alphabet shares rise by 10% to increase market cap by Rs 5 lakh crore

Business

  • Google’s parent company Alphabet’s revenue grew 19% in April-June quarter
  • Alphabet America’s fourth largest company with a market cap of Rs 60 lakh crore
  • Microsoft at number one, valuation Rs 75 lakh crore
  • TCS has the highest market cap in India at Rs 7.91 lakh crore

California. Shares of Google’s parent company Alphabet gained 9.6% on Friday. This increased the company’s market cap by $ 75 billion (Rs 5.17 lakh crore) to $ 864.5 billion (Rs 59.65 lakh crore). Friday’s gain in Alphabet’s stock is the biggest single day gain since July 2015. The stock jumped as the April-June quarter financial results were better than expected. The company had announced the results on Thursday.

This time three times profit compared to April-June quarter of 2018

  1. 5 big US companies in market cap

    company Market Cap (Rupees)
    Microsoft 74.73 lakh crores
    Amazon 66 lakh crores
    Apple 65.95 lakh crores
    Alphabet 59.65 lakh crores
    Facebook 39.34 lakh crores
  2. Alphabet posted a profit of $ 9.9 billion (Rs 68,000 crore) in the April-June quarter. This is three times the June quarter of last year. Revenue grew 19% to $ 38.9 billion. Advertising revenue stands at $ 32.6 billion. It was $ 28.09 billion in the June quarter of last year.

  3. Google’s cloud business has recorded good growth. Google CEO Sundar Pichai said that the cloud business’s annual revenue has reached $ 8 billion. Paid clicks on Google properties have increased by 28% year-on-year. The company’s board has also approved the $ 25 billion share buyback decision.

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