Alphabet (NASDAQ:GOOGL) reports 4Q16 Profit Up 8.0%

Alphabet (NASDAQ:GOOGL) reports 4Q16 Profit Up 8.0%


Alphabet (NASDAQ:GOOGL) GOOGL: (%) headquartered in Mountain View, California reported net income for the fourth quarter of $ 5.33 billion or $ 7.56 per share, compared to income $ 4.92 billion or $ 7.06 per share for the year-ago quarter.

The company reported fourth quarter net income of $ 6.59 billion or $ 9.36 per share, while analysts from Thomson Reuters expected $ 9.64 per share.

Top line figures for the fourth quarter rose 22.18% to $ 26.06 billion from $ 21.33 billion in the same quarter last year, where as analysts anticipated $ 25.23 billion.

Ruth Porat, CFO of Alphabet, said that Our growth in the fourth quarter was exceptional — with revenues up 22% year on year and 24% on a constant currency basis. This performance was led by mobile search and YouTube. We’re seeing great momentum in Google’s newer investment areas and ongoing strong progress in Other Bets.