‘Google Shares Spike 6% After ‘Alphabet’ Restructuring’ – TechCrunch
Josh Constine says, “Google just announced a big restructuring of the company, sending shares up about 6 percent in extended trading. After the announcement, shares of Google rose 5 percent, but have since risen even further.
As part of the restructuring, Larry page is now the new CEO of a parent company called Alphabet, while Sundar Pichai will be CEO of Google. According to a regulatory filing, Google’s business will include “search, ads, maps, apps, YouTube and Android and the related technical infrastructure.”
Clearly, investors like the move. Google, which basically prints money with its advertising business, has seen its revenue growth somewhat slow down. So a shakeup seems like a welcome change to investors for the company, which is looking for the future of its business with projects that go beyond its search business”.
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