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Google hits trillion-dollar market value

Google parent Alphabet has surged to a trillion-dollar market capitalisation for the first time, joining a rarefied group of mega-corporations at the zenith of American capitalism.

The tech titan has pleased investors with a flood of cash continuing to pour in despite recent concerns over brand safety, privacy and a €1.5bn EU fine over ‘illegal’ online ad contracts; passing a psychologically important barrier which puts it in the same league as Apple, Amazon and Microsoft.

This financial success is driven by the four pillars of Google’s business; search, advertising, YouTube and Android, with expectations high that its nascent Cloud business can establish itself as a fifth pillar after doubling revenues to $2bn between February 2018 and July last year.

Google’s stratospheric recent ascendancy is being attributed to the leadership of chief exec Sundar Pichai and follows a surprise decision of Alphabet’s co-founders Larry Page and Sergey Brin to stand down from the business.

Last year Alphabet posted a similarly barnstorming set of results with revenue jumping 26% to reach $31bn.

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