Google parent Alphabet just released fourth quarter and full year earnings. The company surprised analysts and beat their consensus expectations on the top and bottom lines. CFO Ruth Porat said the company’s revenue growth was a product of mobile search acceleration, YouTube and programmatic.
Fourth quarter revenue was $21.3 billion vs. expectations of $20.8 billion. Earnings per share were $8.67 compared with expectations of $8.09. Full year revenues were nearly $75 billion.
Source: Alphabet Q4 earnings release.
While Apple had a nearly $76 billion quarter, investors are now more bullish on Google’s outlook. Accordingly Alphabet’s valuation is poised to surpass Apple and make it the most valuable company in the world.
Google reported that paid clicks were up 31 percent year over year but cost-per-click was down 13 percent.
Google has more than $73 billion in cash and cash equivalents on hand. Like Apple most of that money is held overseas.
Notes from the earnings call:
Strength is mobile search was partly driving by mobile ad improvements.
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