Alphabet set to report fourth-quarter results after the close


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Sundar Pichai, chief executive officer of Alphabet Inc., speaks during the CEO Summit of the Americas hosted by the US Chamber of Commerce in Los Angeles, California, US, on Thursday, June 9, 2022. 
Kyle Grillot | Bloomberg | Getty Images

Alphabet missed on both top and bottom lines when it reported fourth quarter earnings after the bell Thursday. The company’s stock is down 4% after hours. 

Here’s how the numbers stacked up:

  • Earnings per share (EPS): $1.05 vs $1.18 per share expected, according to Refinitiv 
  • Revenue: $76.05 billion, vs. $76.53 billion expected, according to Refinitiv
  • YouTube advertising revenue: $7.96 billion vs. $8.25 billion expected, according to StreetAccount estimates.
  • Google Cloud revenue: $7.32 billion vs. $7.43 billion expected, according to StreetAccount estimates
  • Traffic acquisition costs (TAC): $12.93 billion vs. $13.32 billion expected, according to StreetAccount estimates

The company said it would take a charge of between $1.9 billion and $2.3 billion, mostly in the first quarter of 2023, related to the layoffs of 12,000 employees it announced in January. It also expects to incur costs of about $500 million related to reduced office space in Q1, and warned that other real-estate charges are possible going forward.

The company said it lost $1.49 billion on equity securities during the quarter.

YouTube advertising revenue fell short of analyst expectations to $7.96 billion — down from $8.63 billion the year prior.

During the quarter, Google Cloud brought in $7.32 billion — less than analysts expected. It’s still a notable gain from $5.54 billion the year prior.

WATCH: U.S. Justice Department addresses antitrust litigation against Google

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