Disappointing growth hits Google parent Alphabet shares – News of Bahrain- DT News

Disappointing growth hits Google parent Alphabet shares – News of Bahrain- DT News

Google parent Alphabet missed revenue expectations in the fourth quarter despite stellar growth at YouTube and in the cloud, earnings figures released Monday showed.. Detailing its cloud computing and YouTube revenues for the first time, Alphabet reported that profits rose 19 per cent from a year ago in the quarter to nearly $10.7 billion as revenues increased 17pc to $46bn.. Alphabet and Google chief executive Sundar Pichai touted YouTube as a revenue star at the company, with ad revenue reaching $15bn last year in an increase of about 36pc from 2018.. Despite assurances by executives that Alphabet sees plenty of money-making potential ahead and is investing to capitalize on long-term trends, Alphabet shares slipped more than four percent in after-market trades that followed release of the earnings figures.. "Our investments in deep computer science, including artificial intelligence, ambient computing and cloud computing, provide a strong base for continued growth and new opportunities across Alphabet," said Pichai.. The company said its cloud computing services took in $2.6 billion in revenue during the last three-month period -- up more than 50pc -- and nearly $9bn for the year.. Google advertising took in the majority of revenue at $38bn in the quarter, and