Alphabet shuts down Loon internet balloon project

  • Alphabet is pulling the pin on Project Loon, a decade old venture that planned to beam internet to Earth via giant balloons.
  • While it struggled to get off the ground, the experimental business saw some successes over the years, like helping restore cell service in Puerto Rico following Hurricane Maria and getting tens of thousands of Peruvians back online after serious flooding in 2017.
  • Loon even launched a pilot service in Kenya last summer, sending 4G LTE signals down to an area of 30,000 square miles.
  • However, the project was just too expensive for everyday people and Loon couldn't get costs low enough to build a long-term, sustainable business.
  • Facebook (NASDAQ:FB) also abandoned plans for Aquila in 2018, which aimed to deliver network service via solar-powered drones, prompting companies to increasingly look to space to blanket the globe in connectivity.

    Fundamentals Alphabet

    Over the current book year the total revenue from the company in Mountain View will be 178.76 billion USD (consensus estimates). This is rather significant more than 2019's revenue of 161.86 billion USD.

    Historical revenues and results Alphabet plus estimates 2020

    aandeel Alphabet

    The analysts expect for 2020 a net profit of 35.78 billion USD. For this year the consensus of Alphabet 's result per share is a profit of 51.73 USD. The price-earnings-ratio equals 36.88.

    For this year analysts don't expect the company to pay a dividend. The average dividend yield of the internet companies is a low 0.09 percent.

    Most recent target prices around 2150 USD

    Canacord Adams, Goldman Sachs and KBC Securities recently provided recommendations for the stock.

    Based on the current number of shares Alphabet 's market capitalization equals 570.94 billion USD. The Alphabet stock was the past 12 months quite unstable. Since last January the stock is even 32 percent higher. This year the stock price moved between 1009 and 1932 dollar.

    Historical stock prices Alphabet

    financial analysis alphabet

    Click here for dividend Alphabet. On Tuesday, the stock closed at 1907.95 USD. Nieuwsdienst: +31 084-0032-842

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