Alphabet Shares Fall After Search Revenue Misses Estimates
- Fourth-quarter revenue, earnings per share beat estimates
- Google’s search engine is under competitive pressure on AI
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Alphabet Inc. reported fourth-quarter revenue from its core search advertising business that fell short of analysts’ estimates, overshadowing an otherwise strong end to the year.
Sales, excluding partner payouts, jumped 15% to $72.3 billion in the three months ended Dec. 31, the company said Tuesday in a statement. That was better than the $71 billion analysts had projected, and the best quarter for revenue growth in seven. Net income was $1.64 per share, compared with Wall Street’s estimate of $1.59 per share.