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Google Tumbles Despite Beating As Spending Skyrockets

• by Tyler Durdan

And to those who expected a beat, they were right, because moments ago Google Alphabet reported Q4 EPS of $12.77, beating exp. of $10.82 soundly (thanks to an 11% effective tax rate, down from 138% a year ago), with revenue ex-TAC of $31.84BN also not only above the consensus forecast of $31.33BN, but also above the highest Wall Street forecast of $31.81BN.

The other Q4 core earnings highlights were all solid as well:

Paid clicks on Google properties such as search and YouTube rose +66% while ad revenue increased 18% to $27BN

Cost-per-click on Google properties -29%

More good news: ads on Google properties were up 21% while TAC as a share of ad sales was down from last year.

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