Alphabet Inc. reported quarterly revenue that missed analysts’ estimates, and new sales numbers on YouTube also disappointed Wall Street, sending the shares down more than 4% in extended trading. Advertising revenue in the quarter rose 17%, slower than the 20% year-over-year growth for the same quarter a year earlier. YouTube ads generated sales of $15.1 billion in 2019, up 36% from the previous year, the company said in a statement. Google has consistently said YouTube is a major source of growth, but it hadn’t broken out details until Monday. Until now, cloud and YouTube had been bundled together in an opaque Google metric called Other Revenue.

Source: Los Angeles Times February 03, 2020 23:15 UTC