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Tuesday, 02 February 2016 - 11:42
Apple is no more the top
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Alphabet- Google's parent company has surpassed Apple as the world's most valuable company after its latest earnings report.

According to international news sources, the company has made a profit of $4.9 billion for the fourth quarter, an increase from $4.7 billion a year ago.

The announcement sent its share price up as much as 9% in after-hours trading.

That means that Alphabet is now worth around $568 billion, compared with Apple, which has a value of $535 billion.

It is the first time that Alphabet has separated out the results of its Google business - which includes the search engine and YouTube - from its "Other Bets" business, which includes more experimental ventures such as self-driving cars and internet balloon programs.

On an annual basis, Alphabet made $16.3 billion but the figures show that the "Other Bets" business lost $3.6 billion during the period, while Google's operating income rose to $23.4 billion, as online advertising increased.

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