Alphabet: 4Q Earnings Snapshot
MOUNTAIN VIEW, Calif. (AP) _ Alphabet Inc. (GOOGL) on Monday reported fourth-quarter net income of $8.95 billion, after reporting a loss in the same period a year earlier.
On a per-share basis, the Mountain View, California-based company said it had profit of $12.77.
The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $11.08 per share.
The internet search leader posted revenue of $39.28 billion in the period. After subtracting Alphabet’s advertising commissions, revenue was $31.84 billion, which also beat Street forecasts. Twelve analysts surveyed by Zacks expected $31.28 billion.
Alphabet shares have climbed 9 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen roughly 9 percent. In the final minutes of trading on Monday, shares hit $1,141.42, a rise of 2 percent in the last 12 months.