GOOG: $26 billion in Q4 revenue beats expectations but earnings down

Google parent Alphabet Inc. announced financial results for the fourth quarter of last year. The company reported $26.06 billion in quarterly revenue, which was more than financial analysts had expected. However adjusted earnings per share of $9.36 were below expectations. Overall year-over-year revenue growth was 22 percent. Ad revenues were $22.4 billion, representing 17 percent growth. Despite these figures, the stock was down in after-hours trading. Paid clicks were up on Google sites and network properties, 43 percent and 7 percent respectively. But CPCs were down 16 percent and 19 percent.