Google's strong fourth quarter pushes Alphabet shares higher

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parent company and during the three month period the company recorded a record breaking $56.9 billion in revenue. That was a gain of 31.7% from the $43.2 billion that Alphabet grossed during last year’s fourth quarter. It also topped Wall Street expectations of $52.7 billion in revenue. Advertising revenue was $46.2 billion during the quarter, up 22% on a year-over-year basis. Analysts were looking for Google to report $42.3 billion in advertising revenue for the fourth quarter. To generate that amount of business, Google had to spend $10.47 billion in traffic acquisition costs.
Alphabet’s …
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