Wall Street got its first glimpse of the financial details of a new conglomerate called Alphabet on Monday. Investors liked what they saw so much that the outfit formerly known as Google is poised to become the world’s most valuable company.
Despite spending $3.6 billion a year on projects like self-driving cars that don’t make much money, Alphabet’s advertising business propelled the company to a strong last three months of 2015, outpacing expectations and sending the stock up in after-hours trading.
00:00 Qualcomm licensing business, Apple deal attacked in FTC’s antitrust lawsuit14
05:02 Ringling Bros. and Barnum & Bailey Circus to close after 146 years14
23:23 Don’s what? Portable toilet names covered for inauguration16
23:47 2 years after the hack, Sony CEO Lynton exits for Snap Inc14