Alphabet surpasses Apple as world’s most valuable public company
Alphabet Inc., Google’s new parent company, has become the most valuable company in the world, passing iPhone-maker, Apple.
In Alphabet’s fourth quarter and fiscal year 2015 results, the company ended last year with a total revenue of $21.33 billion – an 18% jump compared to its 2014 revenue ($18.10 billion). The report has then brought the company’s market cap at over $550 billion while Apple sits at $538 billion, making it the most valuable publicly-traded company in the world.
Alphabet has attributed the company’s revenue growth to mobile search as well as YouTube and programmatic advertising.
“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,” said Ruth Porat, CFO of Alphabet.