Apple has been known as the world’s most valuable company for some time however, as of today Google’s parent company, Alphabet has took that top spot with exceptional financial results from it’s Q4 report, which revealed that the company had broke previous records with revenue of $21.3 billion and earnings per share of $8.67.
The results mean that Alphabet now has a market capital of $558 billion, beating Apple’s previous record of a $535 billion market capital and making it the world’s most valuable publicly traded company.
Ruth Porat, CFO of Alphabet explained more:
“Our very strong revenue growth in Q4 reflects the vibrancy of our business, driven by mobile search as well as YouTube and programmatic advertising, all areas in which we’ve been investing for many years. We’re excited about the opportunities we have across Google and Other Bets to use technology to improve the lives of billions of people.”
On top of all of this, Google also seen an increase in revenue in Q4 of 18% over the previous year.
You can read the full earnings report at the source link below.