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.READ MORE: UPDATE: Estrada Fire Containment 35%; Evacuation Orders Downgraded as Crews Mop Up
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.READ MORE: Hollywood Movie, TV Workers Reach Deal With Producers to Avert Strike
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.MORE NEWS: COVID Vaccination Count in San Mateo County Revised Down Due to Data Error
© Copyright 2019 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.