Google parent Alphabet’s latest profit figures have missed forecasts, sending the tech giant’s shares falling in extended trading on Wall Street.<\/p>\n
Profits rose 8% to $5.3bn (\u00a34.2bn) for the last three months of 2016, fuelled by more advertising on mobile phones and YouTube.<\/p>\n
But analysts had expected more, and Alphabet’s shares fell almost 3% .<\/p>\n
However, revenue for the quarter topped $26bn, up 22% from the same period the year before.<\/p>\n
Google’s advertising revenue, which accounts for the bulk of its business, rose 17.4% to $22.40bn in the quarter.<\/p>\n
Paid clicks, or clicks on Google ads, rose 36%, compared with a 33% increase in the third quarter. Paid clicks are those ads on which an advertiser pays only if a user clicks on them.<\/p>\n
“Our growth in the fourth quarter was exceptional,” Alphabet chief financial officer Ruth Porat said in a statement. “We’re seeing great momentum in Google’s newer investment areas and ongoing strong progress in Other Bets.”<\/p>\n
For earnings purposes, Alphabet separates operations such as self-driving cars and broadband into its Other Bets category, which nearly doubled revenue to $262m in the quarter but still posted a loss of nearly $1.1bn.<\/p>\n
Under its new structure, Alphabet is seeking to expand beyond its role as a search engine and develop new revenues streams.<\/p>\n
Ms Porat pointed to growth app sales, hardware and the cloud business. “We see tremendous potential ahead for these businesses, as well as in the continued development of non-advertising revenue streams for YouTube,” she said.<\/p>\n
–<\/p>\n
Source: BBC<\/p>\n","protected":false},"excerpt":{"rendered":"
Google parent Alphabet’s latest profit figures have missed forecasts, sending the tech giant’s shares falling in extended trading on Wall Street. Profits rose 8% to $5.3bn (\u00a34.2bn) for the last three months of 2016, fuelled by more advertising on mobile phones and YouTube. But analysts had expected more, and Alphabet’s shares fell almost 3% . […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[106],"tags":[3526,225,3297],"class_list":["post-289000","post","type-post","status-publish","format-standard","hentry","category-technology","tag-alphabet-parent-company","tag-google","tag-tech-news"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/289000","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=289000"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/289000\/revisions"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=289000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=289000"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=289000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}