Just half a year after it was formed, Google’s parent company Alphabet has become the most valuable company in the world, dethroning the mighty Apple.
According to Alphabet’s latest financial reports (its first fourth quarter earnings ever), the company’s market value sits at about $570 billion (£396.1bn), which is $35 billion more than Apple’s estimated value of $535 billion (£371.95bn).
In the fourth quarter of 2015, Alphabet has earned $4.3 billion, which is almost $200 million more than the same period last year.
It is also interesting to notice that this represents sort of a return to the top, knowing that Google used to be the world’s most valuable company in 2010, before being overtaken by Apple. The Cupertino giants have been sitting at the top for all this time.
The value of these companies has also increased dramatically in the past five years. Back in 2010, their value was less than $200 billion.
"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.
Alphabet is a company formed in 2015 as the parent company of Google, and often referred to as Google. It was created to make the core Google internet service business "cleaner and more accountable”.