Google Parent Alphabet Smashed Wall Street's Earnings Targets, Shares Rise
Technology giant Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) reported fourth-quarter results after the closing bell on Tuesday, Feb. 2. The Google parent beat Wall Street's expectations by a wide margin. Share prices rose by approximately 8% in the early after-hours trading session.
Alphabet's fourth-quarter revenues rose 23.5% year over year to $56.9 billion, led by a 47% jump in Google Cloud sales. Adjusted earnings increased by 45% to $22.30 per diluted share. Your average Wall Street analyst would have settled for earnings near $15.99 per share on top-line sales of roughly $53.2 billion.
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Source Fool.com
