Alphabet Inc beat Wall Street estimates for fourth-quarter revenue and profit on Monday, as advertisers spent more on its Google search and YouTube services during the busy holiday shopping period.
The company reported net income of $8.95 billion, or $12.77 per Class A and B common share and Class C capital share, in the quarter ended Dec. 31, compared with a loss of $3.02 billion, or $4.35 per share, a year earlier when it recorded a one-time tax charge of $9.9 billion.
Revenue jumped 21.5 percent to $39.28 billion.
Analysts on average had expected revenue of $38.93 billion and earnings of $10.87 per share, according to IBES data from Refinitiv.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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