BARBARA ORTUTAY
AP Technology Writer
SAN FRANCISCO (AP) — Google's revenue grew, but Wall Street wanted more.
Parent company Alphabet's stock fell more than 4% after financial results came out Monday, even as profits rose 19% and beat expectations for the last three months of the year.
Helped by lower taxes, Alphabet said Monday it earned $10.7 billion, or $15.35 per share, more than the $12.49 a share analysts polled by FactSet were expecting. Net revenue, after subtracting advertising costs, was $37.6 billion, up 18% from a year ago. But analysts were looking for $38.4 billion.
This was the second rocky quarter in a row for the online search leader. Its third quarter brought higher-than-expected revenue but a profit shortfall due to higher spending on new hires, data centers and
Sign in
Welcome! Log into your account
Forgot your password? Get help
Privacy Policy
Password recovery
Recover your password
A password will be e-mailed to you.