Google's Parent Company Alphabet Misses Q4 Revenue Targets As Ad Growth Slows

Benzinga

Alphabet reported fourth-quarter earnings that beat analyst estimates, yet missed revenue expectations. The company cited slower growth across its advertising, YouTube, and services businesses than the prior year. The cloud unit achieved 30% year-over-year growth while trying to keep up with Amazon Web Services and Microsoft Azure. Alphabet’s Waymo division announced multiple expansions and plans to scale its self-driving car operations. These include widening its robotaxi coverage in major U.S. cities, launching services in new locations, and preparing for its first international tests in Tokyo. Shares fell 9% in after hours trading on Tuesday.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Alphabet reported fourth-quarter earnings that beat analysts' estimates, yet missed

00:06revenue expectations. The company cited slower growth across its advertising,

00:11YouTube, and service businesses compared to the prior year. The cloud unit achieved

00:1530 percent year-over-year growth as it tried to keep up with Amazon Web Services and Microsoft

00:21Azure. Alphabet's Waymo division announced multiple expansions and plans to scale its

00:25self-driving car operations. These include widening its robo-taxi coverage in major

00:30U.S. cities, launching services in new locations, and preparing for its first

00:34international test in Tokyo. Shares fell 9 percent in after-hours trading on Tuesday.

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