Google parent Alphabet profit edges up

San Francisco: Google parent Alphabet on Thursday reported that its profit in the final three months of last year climbed on growth in mobile search and video-sharing service YouTube.
The California-based technology giant said its net income rose eight per cent to $5.3 billion, which fell short of Wall Street expectations despite better-than-expected revenue. Alphabet revenue in the quarter topped $26 billion, up 22 per cent from the same period a year earlier.
Its shares slipped more than two per cent to $838.29 in after-market trades that followed release of the earnings figures.
“Our growth in the fourth quarter was exceptional,” Alphabet chief financial officer Ruth Porat said in the earnings release, crediting mobile search and YouTube with driving the performance.
Its main operating unit remains Google and advertising remained the money-making engine for the company, but the number of paid clicks shrank, according to the earnings report. — AFP