Despite delivering a Q4 earnings beat, Google parent company Alphabet’s stock is dropping. The company reported revenue of $39.3 billion, up 22 percent year-over-year with an EPS of $12.77. Alphabet stock dropped as much as 4 percent in after-hours trading.
“Other” revenues (Cloud, hardware) were reported at $6.49 billion, up 31 percent year-over-year. “Other Bets,” which includes ventures like the Waymo self-driving car group and health services effort Verily, saw losses climb to $1.3 billion with revenue sitting at $154 million, short of Wall Street estimates.
A number that analysts were increasingly looking closely at, traffic acquisition costs, climbed to $7.4 billion in Q4 up 15 percent year-over-year.