Alphabet reluctantly tells investors how much money it’s losing on Nest
April 24, 2018 at 09:24 AM EDT
It’s the first time Mountain View-based Alphabet has detailed Nest’s performance since acquiring the Palo Alto-based hardware startup in 2014 for $3.2 billion. For the past four years, Wall Street analysts have speculated that Nest hemorrhages money, with thin margins and unsustainably high operating costs.