Investing.com - Google parent Alphabet (NASDAQ:GOOGL) reported fourth-quarter earnings that topped Wall Street expectations on the top and bottom lines Monday, but operating income growth was a concern and shares sold off after hours.
Alphabet shares lost 2.5% postmarket.
The company reported earnings earnings per share of $12.77 on revenue of $39.28 billion. Analysts polled by Investing.com anticipated EPS of $10.88 on revenue of $38.91 billion. That compared to EPS of $9.70 on revenue of $32.32 billion in the same period a year earlier. Revenue was up 20.5%.
But income from operations for the quarter rose just 7% to $8.203 billion from $7.664 billion a year ago. Analysts were looking for around $8.6 billion, according to Seeking Alpha.
Traffic acquisition costs rose to $7.44 billion, up 13% but right around what the market was expecting.