Google reported profit and sales that topped estimates, lifted by
robust sales of online ads and tighter cost controls, putting
parent Alphabet Inc. on track to overtake Apple Inc. as the
world’s most valuable company.
The results, reported for the first time under a new structure
that separates Google’s main search and advertising operations
from riskier investments, show that fourth-quarter revenue,
excluding sales passed on to partners, rose 19 percent to $17.3
billion. That exceeded analysts’ average projection for $16.9
billion, according to data compiled by Bloomberg. Profit, before
certain items, was $8.67 a share, beating the prediction for
The shares of Mountain View, California-based Alphabet rose as
much as 9.4 percent in extended trading. The stock advanced 1.2
percent to $770.77 at the close in New York, giving the company a
market capitalization of $523.1 billion, compared with $534.7
billion for Apple.