Google parent beats Q4 estimates, stock still drops

Google parent beats Q4 estimates, stock still drops
In this Dec. 17, 2018, file photo a man using a mobile phone walks past Google offices in New York. Alphabet Inc., parent company of Google, reports financial results on Monday, Feb. 4, 2019. (AP Photo/Mark Lennihan, File)

Google parent company Alphabet beat Wall Street expectations for its fourth quarter earnings Monday, although its stock slid in after-hours trading.

The company reported profit of $8.9 billion on revenue of $39.3 billion.

Its revenue grew more than 21 percent from $32.3 billion a year ago.

Analysts polled by FactSet were expecting earnings per share of $10.86, or a profit of $7.6 billion, on revenue of $38.9 billion.

Alphabet's advertising commissions, or the money it pays other companies to direct people to its search, grew to $7.4 billion from $6.5 billion a year ago.

Alphabet's stock price dropped roughly 3 percent despite the beat in after-market trading Monday.

Alphabet shares have climbed 9 percent since the beginning of the year, while the Standard & Poor's 500 index has risen roughly 9 percent. In the final minutes of trading on Monday, shares hit $1,141.42, a rise of 2 percent in the last 12 months.

Google parent beats Q4 estimates, stock still drops

In this Dec. 17, 2018, file photo a woman walks past Google offices in New York. Alphabet Inc., parent company of Google, reports financial results on Monday, Feb. 4, 2019. (AP Photo/Mark Lennihan, File)

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