Google parent’s fourth-quarter revenue, profit beat estimates
Alphabet beat Wall Street estimates for fourth-quarter revenue and profit on Monday, as advertisers spent more on its Google search and YouTube services during the busy holiday shopping period.
The company reported net income of $8.95bn, or $12.77 per Class A and B common share and Class C capital share, in the quarter ended December 31, compared with a loss of $3bn, or $4.35 per share, a year earlier when it recorded a one-time tax charge of $9.9bn.
Revenue jumped 21.5pc to $39.28bn.
Analysts on average had expected revenue of $38.93bn and earnings of $10.87 per share, according to IBES data from Refinitiv.