Theta Android News: Alphabet reports earnings: Q4 loss of $3 billion after major tax hit, but hardware shipments "double"

Thursday, February 1, 2018

Alphabet reports earnings: Q4 loss of $3 billion after major tax hit, but hardware shipments "double"

Alphabet reported today in its annual earnings call that the company's fiscal Q4 was a bit of a dismal one, owing to a decision to provision a new tax on foreign assets ahead into the 2017 fiscal year. Basically, Google took a $9.9 billion tax hit in the last quarter of 2017, dramatically lowering the effective net income the company earned for the whole of the fiscal year.

Google lost $3 billion in Q4, but for 2017 overall, it managed net income of $12.7 billion on revenues of $110.8 billion.

Alphabet reports earnings: Q4 loss of $3 billion after major tax hit, but hardware shipments "double" was written by the awesome team at Android Police.