newstails.com

by-mohit kumar

Google Shares Slip after the Sales Miss as Advertising Demand Slows

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Google parent Alphabet Inc. reported fourth-quarter results that narrowly missed analysts expectations,

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CEO says company is more likely working toward a more durable cost structure

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Google will be more focused on Artificial inteligence, with updates soon

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 Sundar Pichai has also put artificial intelligence front-and-center in his discussion of results, and said the company plans to change the way it reports certain AI activities.

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In the fourth quarter, Google said profit was around $1.05 per share, compared to Wall Street’s $1.20 per share estimate.

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Google’s flagship, generated fourth-quarter sales of $42.6 billion, compared with analysts’ average estimate which was $43.3 billion.

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The company’s stock dropped to nearly 4% after hours, erasing some of the 7.28% it has gained in normal trading hours.

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YouTube advertising revenue fell very short of analyst expectations to $7.96 billion,down  of 8% from $8.63 billion the year prior.

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