MOUNTAIN VIEW — Alphabet Inc. on Thursday reported a fourth-quarter loss of $3.02 billion, after reporting a profit in the same period a year earlier.
MOUNTAIN VIEW — Alphabet Inc. on Thursday reported a fourth-quarter loss of $3.02 billion, after reporting a profit in the same period a year earlier.
The Mountain View-based company said it had a loss of $4.35 per share. Earnings, adjusted for pretax expenses, came to $9.70 per share.
The results missed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $10.12 per share.
The internet search leader posted revenue of $32.32 billion in the period. After subtracting Alphabet’s advertising commissions, revenue was $25.87 billion, exceeding Street forecasts. Twelve analysts surveyed by Zacks expected $25.65 billion.
Alphabet shares have risen 12 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 5.5 percent. In the final minutes of trading on Thursday, shares hit $1,181.59, an increase of 45 percent in the last 12 months.
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