Google’s Parent Company Alphabet Beats Expectations With $8.9bn Profit

Google parent Alphabet quarterly earnings topped Wall Street expectations on Monday but shares slipped, with investors apparently focused on rising costs at the technology … Continue reading Google’s Parent Company Alphabet Beats Expectations With $8.9bn Profit

By Simon

Updated February 4, 2019

Traders and financial professionals work ahead of the closing bell on the floor of the New York Stock Exchange (NYSE), June 15, 2018 in New York City. On Friday, the Trump administration stated it will move ahead with tariffs on $50 billion of Chinese imports, prompting the Chinese government to announce retaliatory tariffs on $34 billion worth of American goods, including agriculture products. With trade war fears looming again, the Dow fell more than 280 points in the morning but bounced back to finish the day down 85 points. Drew Angerer/Getty Images/AFP

(File) Traders and financial professionals work on the floor of the New York Stock Exchange (NYSE).

Google parent Alphabet quarterly earnings topped Wall Street expectations on Monday but shares slipped, with investors apparently focused on rising costs at the technology giant.

Alphabet reported a profit of $8.9 billion on revenue that was up 22 percent to $39.3 billion from the same period a year earlier.

“With great opportunities ahead, we continue to make focused investments in the talent and infrastructure needed to bring exceptional products and experiences to our users, advertisers and partners around the globe,” said Alphabet chief financial officer Ruth Porat.

Alphabet shares were down 3.5 percent to $1,101 in after-market trades that followed release of the earnings figures from the final three months of last year.