Google’s parent company, Alphabet Inc. is now the most cash-rich company in the world. It achieved this feat during the second quarter of 2019. Alphabet now beats Apple in the long-held position.
It has surpassed the tech giants with its $117 billion (NGN42,120 trillion) liquid reserves. Apple has only $102 billion (NGN36,720 trillion) for the second quarter of 2019.
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Alphabet’s liquid reserves have risen by almost $20 billion (NGN7.2 trillion) since December 2017. Meanwhile, Apple has faced a decline from its $163 billion (NGN58.32 trillion) liquid reserves since then.
Google’s parent company has been able to beat analysts’ estimates as it reported $38.94 billion (NGN14 trillion) sales by the end of June 30, 2019.
The success of Alphabet is coming amidst several controversies in the tech industry. The company like other tech giants has faced antitrust scrutiny from the US government. Also, it has had a year of protests from employees and investigations into how it handles YouTube extremists.
Also Read: Google Replaces Voice Search On Android With Google Assistant
Interestingly, the company is yet to be bestowed with the title of the “world’s most valuable company.” Apple held the crown in August 2018 when it became a trillion-dollar company. It has since been overtaken by Microsoft and Amazon.
