Alphabet’s value stood at $530bn (£367bn) at the close of normal trading on Monday – with Apple’s market capitalisation at nearly $535bn but its value was 1% lower after-hours.
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The announcement sent its share price up as much as 9% in after-hours trading.
A strong report could boost the stock enough for Alphabet to surpass Apple Inc as the most valuable company in the world.
Alphabet will officially beat Apple in total market value if the two tech companies open at those levels on Tuesday.
Alphabet, Inc., the company previously known as Google, has reported another quarter of stellar results off the back of continued advertising growth from its core Google business.
Alphabet posted $4.9 billion in profit for the final quarter of 2015, a 5 percent increase from the same period previous year.
Alphabet reported an 18% increase in revenue to $21.33 billion, higher than the $20.77 billion expected by Wall Street analysts.
Apple’s stock has been sliding amid concerns over slowing iPhone sales.
The new structure under Alphabet is expected to offer more transparency for investors anxious about Google investing in money-losing projects.
The global reach of incredibly popular search engine at the heart of the company’s business has continued to climb as more people use smartphones and tablets for a rising amount of daily tasks. By revealing huge, mounting losses in its non-Google businesses, Alphabet showed that Google is growing stronger than ever.
“It looks like Google continues to execute on mobile [advertising]”, said Neil Doshi managing director of research at Mizuho Securities.
The existing Google shareholders became shareholders of the new holding company.
In the fourth quarter, Google produced an operating profit of United States dollars 6.8 billion on revenue of USD 17.1 billion, after subtracting ad commissions. The Group had surprisingly announced the conversion to the alphabet-holding in last August and in October completed under the revenue Google is only one of several daughters.
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Google accounted for all but a sliver of Alphabet’s revenue, bringing in $74.5 billion for the year compared to $448 million for “Other Bets”, a group that includes Calico, Google Capital, Google Fiber, Google Ventures, Google X, Nest, and Verily.
