AlphabetGoogle’s parent company loses $3.6 billion on ‘bets’

At the official close of trade, Apple was worth United States dollars 534.7 billion based on its share value to USD 530.1 billion for Alphabet.

Google’s parent company, Alphabet, has officially overtaken Apple as the world’s most valuable company after it posted a market cap of around $570 billion, passing Apple’s $535 billion. Going forward, Google’s parent company may have an advantage over Apple, at least in terms of remaining the most valuable firm in the world.

For the first time, Alphabetunveiled the profitability of its search engine Google and its other online services, and how much it is spending on striving technology developments, for exampleself-driving cars.

Revenue for the fourth quarter of 2015 totaled $21.3 billion, an 18 percent year-over-year increase.

Today, for the first time, Alphabet reported financial results that distinguish between its core “Google” business (which include search and advertising, along with things like Maps, Android, YouTube, and Chrome) and the experimental businesses – such as self-driving cars – that Alphabet is calling “other bets”.

Google ad revenue climbed globally, gaining on both mobile devices and desktop computers, according to Alphabet chief financial officer Ruth Porat. (Google reorganized itself under Alphabet last October.) Investors pushed up Alphabet stock $35.73, or 4.6 percent, to $806.50 in extended trading.

Alphabet is now holds a value of around $568bn, compared with Apple, which has a value of $535bn.

Revenue for Other Bets was $151 million, up 29.8 percent from $106 million in the same quarter a year ago, primarily from its smart-home monitoring unit Nest, Google Fiber, which provides high-speed Internet access, and its life sciences business Verily. “Google’s latest rise versus Apple began in July”.

While Alphabet incurred some big losses on other ventures, Google’s advertising revenue shot up.

“It looks like Google continues to execute on mobile [advertising, ]” Neil Doshi managing director of research at Mizuho Securities said in an interview with BBC. The increase is mainly thanks to mobile ads, and the outlook on this department appears to be promising because of the numerous individuals who use mobile search.