Based on expectations, it was a disappointment. Google parent (NASDAQ: GOOG) (NASDAQ: GOOGL) produced $65.5 billion worth of advertising revenue during the fourth quarter. Analysts were expecting a figure closer to $66 billion. Alphabet stock stumbled more than a little after the numbers were released after Tuesday's closing bell.

It's yet another case, however, where the market may have lost sight of the much bigger bullish picture by fixating on one specific data nugget. There are still plenty of reasons to own Alphabet stock. The recent setback is another one.

Alphabet turned a total of $86.3 billion in revenue last quarter into operating income of $23.7 billion or a per-share profit of $1.64.

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Source Fool.com