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Alphabet Inc (NASDAQ:GOOG) Fiber Rules Out Cable TV Package For New Cities

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10/06/2017 | 01:35pm CET

The stock of Alphabet Inc(NASDAQ:GOOG) closed at $969.96 gaining 1.92% in yesterday’s trading session. This company’s super-fast Fiber Internet service has decided to drop the cable TV package for new cities. Sometime back, the company was keen on providing the traditional pay TV bundle.

Alphabet is slowly moving away from this, a matter that is being met with mixed reactions among the interested parties. Lately, it has been seen to lay greater emphasis on the great need for its customers to watch TV online. It is clear that this company and the related ones are starting to embrace the internet in a major way.

Hulu and YouTube TV are the two platforms where a large number of viewers have been flocking to watch news. The world is fast-evolving considering that people are being empowered in such a way that they are able to watch what they want to watch whenever they want.

Google Fiber’s superfast Internet is a good thing considering that it has succeeded at serving customers in the most amazing ways. A large section of them are now able to get the most from the wide range of the streaming choices. Most of the customers are happy with the fact that they are able to use multiple apps and devices at the same time.

The head of sales and marketing for Google Internet and cable arm, Cathy Fogler opined, “Fiber has been struggling for several years, after sign ups lagged early projections and expenses, including the skyrocketing costs for cable programming, pushed the effort deep into the red.”

CEO Gregory McCray decided to step down and it was surprising to a large number of people considering that the top official had only serve for 5 months.

Austin and Kansas City are 2 of the 10 metro areas where the provider offers its services. The company is considering expanding its services into Louisville and San Antonio. Google is not much outspoken about its business proceedings. However, some sources indicate that it had less than 70,000 video service subscribers before the end of the previous year.

The post Alphabet Inc (NASDAQ:GOOG) Fiber Rules Out Cable TV Package For New Cities appeared first on Market Exclusive.

© Market Exclusive 2017, source Market Exclusive

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Financials ($)
Sales 2017 110 B
EBIT 2017 27 005 M
Net income 2017 22 736 M
Finance 2017 69 845 M
Yield 2017 -
P/E ratio 2017 33,18
P/E ratio 2018 25,87
EV / Sales 2017 6,09x
EV / Sales 2018 4,89x
Capitalization 742 B
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