Alphabet covered the total book value of its equity investments for the first time on Monday, revealing that it has advance about $3 billion on its investments in Uber and other companies. It also exposed that smart home division Nest is losing money on annual gross incomes that are below $1 billion.
Alphabet reported quarterly earnings after the bell on Monday, the basic quarter of a new reporting format that gave investors new insights into the duty.
The company made two key changes: The company disclosed “gain on equity sanctuaries,” and moved Nest from its “Other Bets” segment to its “Google” section.
The company showed a one-time gain on equity securities of $3.03 billion from its portfolio, which is in all likelihood mostly from its 2013 investment in Uber. At that time, the institution put about $258 million into the company at a valuation of about $3.8 billion. Uber is now good north of $60 billion.
It’s especially interesting since Alphabet’s self-driving car institution, Waymo, just wrapped up a lawsuit against Uber this year.
Contrasting recast financials for “Other Bets” with the original figures showed that Den lost $168 million on revenue of $278 million in the fourth shelter of last year, spanning the critical holiday season. For the entire year, it at sea $621 million on revenue of $726 million.
Investors have have a craved for years to know more about Google’s giant businesses, maximum its core search advertising revenue stream. But despite owning mammoths take pleasure in Android and YouTube, Alphabet has been slow to draw back the curtains as it has transitioned from one establishment (Google) to a conglomerate (Alphabet) over the past few years.