Alphabet's quarterly results far exceeded analysts' expectations, and the company's stock itself shot up in over-the-counter trading. The owner of Google has improved profits in various areas of the business.
In response to the published results, Google shares rose in over-the-counter trading by more than 6 percent. Since the beginning of the year, the company's stock has already gained 37.1 percent, outperforming the S&P 500 index, which increased by 19.4 percent over the period.
Google's parent company reported revenue growth of 7% in the fourth fiscal quarter. They reached $74.6 billion, beating expectations of $72.75 billion. Alphabet's adjusted earnings per share was $1.44, well above the $1.32 forecast. The company's total operating income reached $21.8 billion.
Google's advertising revenue totaled $58.14 billion. against the forecasted USD 57.5 billion. and $56.3 billion achieved in the same period last year.
Ad revenue on YouTube reached $7.66 billion. compared to the expected $7.41 billion. A year earlier, it was USD 7.34 billion
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