US IT giants post record sales in Oct.-Dec

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Alphabet's shares, which closed down a small fraction, to $1,181.59, on regular trading, plunged more than 4 percent in after-hours trading as it missed earnings estimates, before later recovering somewhat.

Alphabet Inc. has a 52-week low of $743.59 and a 52-week high of $1,008.61.

The company said aggregate paid clicks increased 43 percent year-over-year and 18 percent from last quarter.

Today is a surprising slip-up for the Google, which while it continues to print money and beat Wall Street's expectations on the revenue front, found itself tumbling after its fourth-quarter earnings came out.

The increase in TAC could be a "means toward capturing incremental share of advertiser spend from competitors and a way to drive top-line gross revenue", noted Brian Wieser, senior analyst at Pivotal Research. Alphabet class A stock has gained 45% in the past 12 months, with the S&P 500 index rising 24%.

Alphabet's $3 billion loss was due to $9.9 billion tax hit, which they said was primarily "due to the one-time transition tax on accumulated foreign subsidiary earnings and deferred tax impacts".

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GOOGL is estimated to report its adjusted earnings per share of $10.12 for Q4 that happens to be an up from $9.36 in the prior-year quarter as per third party consensus analyst predictions. TAC as a percent of Google Network Members' properties revenues increased to 74% from 70% a year ago.

Schmidt oversaw the huge corporate restructuring of Google in 2015, until it eventually became a business unit of the holding company Alphabet, whose holdings now include Google, YouTube, Nest and Waymo.

The California tech giant said revenues in the last three months of 2017 rose 24 percent from a year ago to $32.3 billion and cited "great growth" for the company. The rest of Alphabet's business - including its enterprise segment, hardware sales and app store - garnered $4.69 billion in revenue.

"Our device shipments in the fourth quarter have more than doubled year-over-year", Google CEO Sundai Pichai added on the call.

Google Cloud seems to be the jewel in the crown here, banking $1bn in sales for Q4 2017 alone.

A changing of the guard is also underway at Alphabet, with former Stanford University chair John Hennessy becoming the new company chair. Finally, Vetr downgraded shares of Alphabet from a "buy" rating to a "hold" rating and set a $1,007.29 target price on the stock.in a report on Friday, October 6th. "Alphabet's core Google division faces many longer-term headwinds (primarily related to the limits to growth of digital advertising at least in lieu of significant investments in margin eroding content) that we don't think are fully appreciated by investors".

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