“Google-parent Alphabet reported quarterly earnings that missed analysts’ estimates on Thursday,” Anita Balakrishnan reports for CNBC. “Revenue topped expectations, led by YouTube and mobile search, chief financial officer Ruth Porat said in a statement.”
“The company posted fourth-quarter earnings per share of $9.36, adjusted and excluding items, on revenues of $26.06 billion,” Balakrishnan reports. “Analysts expect[ed] Google-parent Alphabet to report earnings of about $9.64 per Class A share on $25.26 billion in revenue, according to a consensus estimate from Thomson Reuters.”
“Shares of Alphabet hit an all-time intra-day high of $861 a share on Thursday, as the broader markets hit record levels,” Balakrishnan reports. “Shares fell more than 2 percent in after-hours trading.”
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MacDailyNews Take: Gee, that’s too bad.