Alphabet reported the total book value of its equity investments for the first time on Monday, revealing that it has gained about $3 billion on its investments in Uber and other companies. It also showed that smart home division Nest is losing money on annual revenues that are below $1 billion.
Alphabet reported quarterly earnings after the bell on Monday, the first quarter of a new reporting format that gave investors new insights into the business.
The company made two key changes: The company disclosed "gain on equity securities," and moved Nest from its "Other Bets" segment to its "Google" segment.