Alphabet records slowest fourth-quarter revenue growth in five years

(Reuters) – Google-parent Alphabet Inc (O:) on Monday reported its worst fourth-quarter revenue growth since 2015, missing analysts’ estimate for a period in which its top online advertising rivals beat expectations.

Shares of the company fell 4% in extended trading.

The company reported a net income of $10.67 billion, or $15.35 per Class A and B common share and Class C capital share, for the fourth quarter ended Dec. 31, from $8.95 billion, or $12.77 per share, a year earlier.

Revenue jumped 17.3% to $46.08 billion.

Analysts on average had expected revenue of $46.94 billion and earnings of $12.53 per share, according to IBES data from Refinitiv.

(This story was refiled to fix typo in headline)

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