Alphabet’s Cloud Revenue Trails Estimates

Good morning. Alphabet’s revenue comes in shy of estimates. Coffee prices are still on the rise. And prime cuts of steak are luring Londoners to top restaurants. Listen to the day’s top stories.

Alphabet fell in after-hours trading on a fourth-quarter revenue miss as growth in its cloud business slowed. The Google parent company also projected capital expenditures for 2025 of about $75 billion. Snap posted a stronger-than-expected gain in fourth-quarter sales and gave an upbeat forecast for the current period, a sign that an overhaul of its advertising business is paying off.