Alphabet posts disappointing sales and revenue results
The fourth-quarter revenue growth was the worst since 2015
Stocks impacted: Alphabet Inc (GOOGLE)
Google parent Alphabet reported weaker-than-expected fourth-quarter results. While the company registered a massive growth in all of its key segments, hardware sales, YouTube performance, and the overall revenue data disappointed. Google’s full-year 2019 revenue grew by 18% year-over-year to $162 billion compared to $137 billion in 2018. The tech giant’s annual profits grew from $31 billion to $34 billion. The fourth-quarter revenue growth was the worst since 2015. Revenue from Google's cloud service rose 53% to US$2.6 billion in the quarter and advertising on YouTube rose 31% to US$4.7 billion. Alphabet’s total costs and expenses rose 18.5% from a year ago to $36.809 billion in the fourth quarter. After the report, the company’s shares fell 5% in after-hours trading om Monday.
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