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Google's parent company Alphabet hits trillion-dollar valuation

Telegraph 16 Jan 2020 10:08

Google's parent company Alphabet has reached a valuation of one trillion dollars for the first time, making it only the fourth US-listed company to hit the milestone.

Alphabet's shares rose by 0.76pc on Thursday, enough to tip it past the trillion-dollar mark 22 years after the company was founded and 16 after it floated on the stock market.

It joins Apple and Amazon, which first hit the mark in 2018, and Microsoft, which followed last year. Apple and Microsoft have increased their valuations since, while Amazon's has declined.

Alphabet's shares have risen in recent days on strong forecasts for advertising revenues at Google, which makes up almost all of the company's sales despite being just one among several Alphabet divisions.

The umbrella corporation was created in 2015 as a way to give other divisions more independence. They include driverless car company Waymo and digital health units Calico and Verily.

The gains indicate that the markets are taking little heed of what has been a difficult year politically for Google, with President Donald Trump accusing the company of censorship and bias and increased regulatory scrutiny regarding alleged monopoly abuse and privacy concerns.

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