Wednesday 26 June 2019

Google parent’s fourth-quarter revenue, profit beat estimates

Stock photo: Reuters
Stock photo: Reuters Business Desk Business Desk

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.


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