Google parent’s stock slips as earnings miss forecast

Google’s parent company has reported quarterly earnings that missed analysts' estimates. Alphabet’s profits rose to nearly $5.3 billion (AED 19.5 billion), but analysts had predicted this to be higher. Its shares slipped about 3% in after-market trade that followed release of the latest figures. Meanwhile, Alphabet’s overall revenue in the last quarter of 2016 topped $26 billion (AED 95.4 billion), up 22% on the same period the year before. The rise was fuelled by smartphone and YouTube advertising. Under its new structure, Alphabet is seeking to expand beyond its role as a search engine that provides advertising linked to queries.

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