Alphabet: all-time peak ahead in Wall Street.

(CercleFinance.com) - Californian technology giant Alphabet, the parent company of Google, is set to continue with strong growth, with profits also on the up.


In post-market electronic trading, Alphabet Class A share are up over 4%, suggesting that the stock will open at around 930 dollars in Wall Street today: this will be a new historic record.

In Q1 2017, group revenues rose by 22% to 24.7 billion dollars, a rate, which, excluding FX factors, reaches 24%. Operating income will be up more, rising 23% to 6.6 billion dollars, resulting in its operating margin rising from 26% to 27%. Net profit has jumped 29% to 5.4 billion dollars (7.73 dollars per share).

"We are clearly continuing to benefit from our investment in product innovation," said group finance director Ruth Porat, who highlighted the "great momentum in our new businesses across Alphabet."

Alphabet currently has 92.4 billion dollars in cash, up from 86.3 billion dollars at the end of 2016.


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