May 2, 2019 06:11 UTC
May 2, 2019 at 06:45 UTC
Alphabet Stocks Fall Short, Google Looking to Invest in Blockchain
Alphabet, the parent company of Google, has fallen short of targets of the experts for 1st Quarter of 2019. A lot of experts claim that Google’s declining ad revenue model must be a source of worry for the tech giant.
Good News of Google
However, the good news is that mobile-associated revenues are significantly up. As indicated by the chief financial officer of Alphabet, mobile searches, YouTube, and The Cloud generated 17% higher combined revenues as compared to the previous year.
This increase wasn’t enough to meet the overall expectations. For comparison, Google’s growth rate in Q1 of 2018 was 24%. This time, it is around 15%.
The decline in Alphabet’s stock price might be short-sighted given that Google isn’t just expanding its employee base but also has made several high-profile investments in the past year. It’s clear that the tech giant is preparing itself for the long-term, in spite of failing to meet expectations for Q1 of 2019.
Google Looks to Blockchain Investment
Google has been gambling on blockchain technology. In 2018, the company declared that it was developing its own blockchain-powered distributed ledger as part of its Cloud services.
As indicated by CBInsights report, Alphabet is one of the top investors in Blockchain startups. Decentralised cloud storage, digital payment rails, cryptocurrency-related derivatives, and blockchain-based identity verification are all areas which have received Google’s sought-after investments.
It should come as no surprise that Alphabet is one of the leading investors in Blockchain Technology. The firm is widely known for developing technologies such as self-driving cars, artificial intelligence, and a futuristic concept like Google Glass. It’s a firm that dependably tries to get the leg-up on tech-associated competitors, and Google clearly sees the blockchain as a gamble worth taking.