Google Parent Company Alphabet Stock Slides Despite Strong 4Q Earnings
MOUNTAIN VIEW (AP) -- Google parent company Alphabet beat Wall Street expectations for its fourth quarter earnings Monday, although its stock slid in after-hours trading.
The company reported profit of $8.9 billion on revenue of $39.3 billion.
Its revenue grew more than 21 percent from $32.3 billion a year ago.
Analysts polled by FactSet were expecting earnings per share of $10.86, or a profit of $7.6 billion, on revenue of $38.9 billion.
Alphabet's advertising commissions, or the money it pays other companies to direct people to its search, grew to $7.4 billion from $6.5 billion a year ago.
Alphabet's stock price dropped roughly 3 percent despite the beat in after-market trading Monday.
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