Friday, January 27, 2017

Q4 result : Google needs fresh directions

 Alphabet Inc, the holding company of Google has  posted fourth-quarter profit below analysts' estimates. This has raised the concerns that growth in the company's powerhouse advertising business may be slowing.

The company posted a 22.2 per cent increase in quarterly revenue as advertisers spent more to reach an expanding user base that spends more time on smartphones and YouTube.

Google's ad revenue rose to 17.4 per cent to $22.40 billion in the fourth quarter.

The company's consolidated revenue rose to $26.06 billion above the average estimate of $25.26 billion.

Intraday the shares of the company slipped to $834 before  at $857 on Nasdaq. After market hours the stock is down 2 odd percent.

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