Alphabet, formerly Google, sets share buyback,

25 October, 2015 Google placed a lot of importance on machine learning and artificial intelligence in its third-quarter earnings call. The non-GAAP value of $7.35 beat analyst estimates of $7.21 (non-GAAP) and is up from $6.25 in the year-ago quarter. “It outperformed both the top and bottom line”, said BGC Financial analyst Colin Gillis. The board of directors of Alphabet authorized the company to repurchase up to $5,099,019,513.59 of its Class C capital stock-not all at once, of course. The parent company is clearly in a position to enjoy the fruits of Google’s search and advertising revenue. Expenses rose 9.1% to $13.97bn but were 74.7% of total revenue, compared with 77.4% in the same quarter past year, reflecting new chief financial officer (CFO) Ruth Porat’s tight rein on spending. Particularly…


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