Tech giant beat revenue predictions for last quarter of 2023 but failed to deliver on predicted advertising revenue
Alphabet stock slid more than 5% in after-hours trading on Tuesday despite narrowly beating overall revenue predictions for quarter four of 2023 after the tech giant fell short in its key advertising sector.
The Google parent company reported a miss on predicted advertising revenue at $65.52bn compared with $65.8bn, but beat predictions for overall revenue at $86.31bn compared with $85.36bn – up 13% year over year.
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