Alphabet, the holding company that owns Google, announced earnings and revenue for the fourth quarter of 2022 below consensus estimates.
The stock dropped 4.6% in afterhours trading on Wall Street, erasing part of the +7.28% rally it had collected during the session.
Fourth quarter earnings per share were $1.05, lower than the $1.18 expected by analysts polled by Refinitiv.
Revenue was $76.05 billion, slightly below the expected $76.53 billion.
YouTube’s advertising revenue came in at $7.96 billion versus an expected $8.25 billion, according to StreetAccount estimates.
Google Cloud revenue was $7.32 billion, down from the $7.43 billion forecast.
Traffic acquisition costs came in at $12.93 billion, better than the $13.32 billion consensus expectation.