Alphabet delivers better-than-expected Q4 revenue

Bulls Look to Alphabet Results to Keep Tech Stock Rally Going

The company's shares slipped in late trading.

Google Cloud scored customers in financial services, retail, and media and entertainment, and expanded regions internationally, Pichai noted.

Alphabet CFO Ruth Porat has stated that the company's rate of growth will slow further, but continued investment in shoring up its flagship products is expected to stand Google and its other interests in good stead.

Porat said increased operating costs stemmed from licensing content for YouTube, expanded data center operations and Google's hardware business. 1 The number of new employees - excluding contractors and the like - jumped 23 percent in a year to almost 100,000.

Porat talked about a moderation in head count growth and capital spending in 2019, but didn't provide specific details.

The yearly numbers looked positive as well - revenue grew from $110.85 billion to $136.81 billion or about 23%.

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But the company is now paying more to support its advertising business.

Alphabet's earnings totaled $12.77 a share in the fourth quarter, about $2 a share above the consensus estimate. Earlier, they closed at $1,141.42 in regular NY trading. Other bets lost $1.3 billion, up a whopping 78 percent over the 748 million the group lost a year ago.

Analysts polled by FactSet were expecting earnings per share of $10.86, or a profit of $7.6 billion, on revenue of $38.9 billion.

The company reported net income of $8.95bn, or $12.77 per Class A and B common share and Class C capital share, in the quarter ended December 31, compared with a loss of $3bn, or $4.35 per share, a year earlier when it recorded a one-time tax charge of $9.9bn.

Alphabet's full-year 2018 results were also reassuring.

Not surprisingly, Google Home was the breakout hit for the company over the holiday season.

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"For a growth company, investment should be applauded", said Atlantic Equities analyst James Cordwell. Google Properties paid clicks grew 86% Y/Y and cost per clicks fell 29%. Last month, French privacy regulators fined Google 50 million euros ($57 million) for not giving consumers enough information when it asked them to sign over access to their information.

While Alphabet had a mostly positive earnings report, there were misses for the tech company. Together the two giants account for about 57% of all digital ad spending. "The fundamentals of their advertising business remain intact". The investor is also bullish about Waymo, Alphabet's autonomous vehicle unit.

Google "other" revenues - think cloud platform and other non-advertising dosh - were $6.5bn, up 30 per cent from $5bn.

Ad revenue growth, as always, will be paramount to investors, while the company's "Other Bets" segment is expected to rise by more than a third. However, those operations showed a $1.3 billion operating loss. Shares of the Mountain View, California-based company rose 1.1 percent at 10:25 a.m.in NY on Monday amid a broader rally in technology and and internet stocks that included Facebook, Netflix, Microsoft and Apple.

The cash hoard has also sparked speculation among some analysts that Alphabet will make a major acquisition to boost its cloud business.

"I think Microsoft and Amazon need to keep one eye open with Google", he said.

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