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Jan 30, 2024
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Alphabet’s stock dips because advertising was good, but not good enough

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Google parent Alphabet Inc.’s stock was tumbling late Tuesday, as a rebound in digital advertising fell short of analysts’ lofty expectations. The search-engine powerhouse reported a jump in fourth-quarter sales, chiefly through advertising, but Alphabet’s shares GOOGL, -src.34% GOOG, -src.src6% fell 6.5% in after-hours trading. Total revenue was $86.3 billion, up src3% from $76 billion

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Google parent Alphabet Inc.’s stock was tumbling late Tuesday, as a rebound in digital advertising fell short of analysts’ lofty expectations.

The search-engine powerhouse reported a jump in fourth-quarter sales, chiefly through advertising, but Alphabet’s shares
GOOGL,
-src.34%

GOOG,
-src.src6%
fell 6.5% in after-hours trading.

Total revenue was $86.3 billion, up src3% from $76 billion a year ago. Sales minus total acquisition costs (TAC) came in at $72.3 billion, compared with $63.src billion a year ago.

Alphabet reported fourth-quarter net income of $20.7 billion, or $src.64 a share, compared with net inc

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