Technology

In this article

Sundar Pichai, CEO of Alphabet, in Brussels, Belgium, on Jan. 20, 2020.
Geert Vanden Wijngaert | Bloomberg | Getty Images

Google parent Alphabet reported better-than-expected fourth-quarter earnings and revenue. The shares popped in extended trading.

The company also announced a 20-for-1 stock split that will go into effect in July.

Here are the key numbers:

  • Earnings per share (EPS): $30.69 vs $27.34 expected, according to Refinitiv
  • Revenue: $75.33 billion vs $72.17 billion expected, according to Refinitiv
  • YouTube advertising revenue: $8.63 billion vs. $8.87 billion expected, according to StreetAccount
  • Google Cloud revenue: $5.54 billion vs $5.47 billion expected, according to StreetAccount
  • Traffic acquisition costs (TAC): $13.43 billion vs. $12.84 billion expected, according to StreetAccount

Google’s advertising revenue came in at $61.24 billion for the quarter. That’s up from $46.20 billion the same time last year.

The company also beat on Wall Street’s expectations for its cloud unit, which reported revenue of $5.54 billion.

Revenue for Other Bets, which includes the company’s self-driving car unit Waymo and life sciences unit Verily, came in at $181 million — down slightly from a year ago.

Traffic Acquisition Costs (TAC), which is the metric used to describe what the company pays other websites to acquire traffic, came in higher than Wall Street expected at $13.43 billion.

This is breaking news. Please check back for updates.

WATCH: Google and Meta report earnings soon, here’s what to expect

Articles You May Like

Shakira announces world tour during surprise Coachella appearance
White House will ‘make sure gas prices remain affordable’ heading into summer, Biden advisor says
Trump ‘smirks’ in court as historic criminal trial gets under way
Bishop among several people stabbed in attack during church service in Sydney
Families of victims to be paid from OJ Simpson’s estate, executor of will suggests