Alphabet Inc., Google’s parent company has announced financial results for the fourth quarter of last year. According to the company, $26.06 billion was reported in quarterly revenue, which is more than financial analysts had expected. But, their adjusted earnings per share of $9.36 were below expectations.
The company’s overall YoY revenue growth was 22 percent. Ad revenues were $22.4 billion, which represents 17 percent growth. Even with these figures, the stock was down in after-hours trading.
Paid clicks were up on Google sites and network properties, 43 percent and 7 percent respectively. CPS were down 16 and 19 percent.
The company credited mobile search and video advertising with driving its top-line revenue growth.
Google reported “other revenues” growth of 62 percent to $3.4 billion. Some of the things included in this category of the hardware products that the company has developed includes Pixel and Google Home. It was estimated by analysts that Google could have sold a million Pixel phones during the holiday quarter. Sales for Google Home have been estimated to be somewhere between 400,000 and 500,000 units.
For Alphabet, they had approximately $86 billion in cash and marketable securities. For 2016, their total revenues was $90.3 billion, where as 2015 was $75 billion.