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ALPHABET INC.

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Alphabet : Nokia moves to Google Cloud, signs five-year deal

10/14/2020 | 09:09am EST
FILE PHOTO: A Google sign is shown at one of the company's office complexes in Irvine, California

(Reuters) - Finland's Nokia has signed a 5-year deal with Google to replace its IT infrastructure, including data centers, with Google's Cloud offering as the network equipment maker seeks to cut costs, it said on Wednesday.

"The agreement is expected to drive meaningful operational efficiencies and cost savings over time due to a reduction in real estate footprint, hardware energy consumption, and hardware capacity purchasing needs," it said in a statement.

It did not unveil the financial details of the contract, but said it will take 18-24 months for the full migration.

(Reporting by Tarmo Virki in Tallinn;Editing by Elaine Hardcastle)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 2.10% 1763.9 Delayed Quote.31.69%
NOKIA OYJ -0.09% 3.39 Delayed Quote.3.16%
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Financials (USD)
Sales 2020 179 B - -
Net income 2020 35 705 M - -
Net cash 2020 118 B - -
P/E ratio 2020 34,6x
Yield 2020 -
Capitalization 1 195 B 1 195 B -
EV / Sales 2020 6,03x
EV / Sales 2021 4,93x
Nbr of Employees 132 121
Free-Float 90,3%
Chart ALPHABET INC.
Duration : Period :
Alphabet Inc. Technical Analysis Chart | GOOGL | US02079K3059 | MarketScreener
Technical analysis trends ALPHABET INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 47
Average target price 1 884,54 $
Last Close Price 1 763,90 $
Spread / Highest target 27,6%
Spread / Average Target 6,84%
Spread / Lowest Target -29,9%
EPS Revisions
Managers
NameTitle
Sundar Pichai Chief Executive Officer & Director
John LeRoy Hennessy Chairman
Ruth M. Porat Chief Financial Officer & Senior Vice President
Lawrence E. Page Director
Sergey Mikhaylovich Brin Director
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