Alphabet Inc GOOGL GOOG shares are trading lower Friday morning after the company reported mixed fourth-quarter results. The company reported a year-over-year decline in Google advertising revenue.
What Happened?
Alphabet said fourth-quarter revenue increased 1% year-over-year to $76.05 billion, which beat average analyst estimates of $75.69 billion. The Google parent company reported quarterly earnings of $1.05 per share, which missed average estimates of $1.18 per share.
“We’re on an important journey to re-engineer our cost structure in a durable way and to build financially sustainable, vibrant, growing businesses across Alphabet.”...Read More
According to data from Benzinga Pro:
- GOOGL is trading lower by 3.84% to $103.60
- GOOG is trading lower by 4.17% to $104.26
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