Jan 26, 2017

Alphabet is curbing its 'moonshot' losses

AP Photo/Mark Lennihan, File

Google's parent company posted mixed results for the fourth quarter of 2016: $26.06 billion in revenue, beating analyst estimates of $25.26 billion, and $9.36 in earnings per share, missing analyst estimates of $9.64.

But there is good news: The losses from its "Other bets"—Nest along with the crazy projects like Internet drones, self-driving cars, and health research—has shrunk to $1.09 billion. "Other bets" lost $1.21 billion in the year-ago quarter. The category's revenue has also grown to $262 million, up from $150 million in the year-ago quarter.

How that happened: Much of this is likely due to CFO Ruth Porat's disciplined approach to Alphabet's finances. While the company used to more freely invest in experimental projects, Porat's set out to curb unnecessary costs and shed projects that won't contribute to the company's bottom line.

  • In the past year, Google has sought to sell or shut down several such divisions, including Boston Dynamics, Titan, and reportedly Terra Bella, and Google Fiber, among others.

Go deeper

The one-minute coronavirus story

Illustration: Sarah Grillo/Axios

News about the coronavirus is so big and coming so fast that it's hard to remember what happened just last week, let alone last month.

Here's the quickest possible review of the story so far — how it happened and how the U.S. lost control.

Alaska becomes latest state to issue coronavirus stay-at-home order

Data: Axios reporting; Map: Danielle Alberti/Axios

Alaska issued a mandate Friday evening for all people in the state to "remain at their place of residence and practice social distancing" except for those engaged in essential services, including health care and government functions, effective Saturday at 5 p.m.

The big picture: This is the latest state to announce policies to enforce social distancing. More than 1.5 billion people worldwide were asked to stay home Monday.

Go deeperArrowUpdated 33 mins ago - Health

Focus group: Minnesota swing voters balk at Trump's Easter deadline

Illustration: Sarah Grillo/Axios

A group of Midwestern swing voters that supported President Trump's handling of the coronavirus less than two weeks ago is balking at his call for the U.S. to be "opened up" by Easter, saying they'll tolerate business closures for as long as it takes to contain the spread.

Why it matters: Their feedback suggests that some voters otherwise mostly supportive of the president — and who still see financial threats outpacing health threats — aren't so tired of social distancing that they're willing to risk ending it too quickly.

Go deeperArrowUpdated 2 hours ago - Politics & Policy