Alphabet Drops an Earnings Shocker
Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) reported its fourth-quarter and full-year results after the market closed on Monday, and the results were weaker than expected. The company generated revenue of $46.08 billion, up 17% year over year, but falling almost $1 billion shy of analysts' consensus estimates of $46.94 billion. The numbers were slightly better on a constant currency basis, gaining 19%.
The bottom line painted a much rosier picture. Alphabet produced net income of $10.67 billion, 19% year over year, and earnings per share of $15.35 billion, up 20% and sailing past expectations of $12.53 billion.
The overall results weren't the big news, however. The headliner was that Alphabet has at long last disclosed the contributions made by its video-sharing platform YouTube and its cloud-computing service Google Cloud. The greater transparency comes just two months after Sundar Pichai was named CEO of Google's parent company.
Source Fool.com
