Google owner Alphabet beats expectations in quarterly report

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Google owner Alphabet beats expectations in quarterly report
Photo: Jeff Chiu/AP/TT

Google's parent company Alphabet beat expectations in its quarterly report on Wednesday evening.

Earnings per share in the fourth quarter of last year were $2.82, compared with the $2.63 analysts expected on average, according to research firm LSEG, CNBC reports.

Revenue was $113.83 billion, compared to the expected $111.43 billion.

Sales have thus increased by 18 percent compared to the same period a year ago.

Revenue from cloud services was $17.66 billion, compared to an expected $16.18 billion.

Ads on the streaming service YouTube brought in $11.38 billion, slightly lower than the expected $11.84 billion.

This year's spending on AI investments, among other things, is expected to be $175-185 billion, almost double last year.

Alphabet's stock rose just over 4 percent in after-hours trading on the New York Stock Exchange.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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