Alphabet reported its fourth quarter earnings that surpassed analysts’ expectations. Revenues also came in higher than anticipated.
The tech behemoth’s earnings for the quarter was $30.69, well above the $27.34 expected by analysts according to Refinitiv.
Revenue of $75.33 billion also beat expectations of $72.17 billion according to Refinitiv. Google’s advertising revenue in the quarter rose +33% from the year-ago quarter to $61.24 billion. Google Cloud revenue came in at $5.54 billion vs $5.47 billion expected, according to StreetAccount. Traffic acquisition costs were $13.43 billion vs. $12.84 billion expected, according to StreetAccount. YouTube advertising revenue of $8.63 billion, however, fell short of $8.87 billion expected, according to StreetAccount.