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Alphabet shares drop as much as 9% on revenue miss, soaring AI investments

Alphabetshares fell more than 9% in after-hours trading Tuesday after the company reported fourth-quarter results that missed on revenue expectations and announced more artificial intelligence investments.

Earnings per share for the Google parent company beat analysts' estimates by two cents.

Here are the numbers:

Here are other numbers Wall Street was watching:

Alphabet's overall revenue grew nearly 12% year over year, compared to more than 13% growth in the same quarter last year. The company's revenue growth, as well as growth for its search business, its YouTube ads business and its services unit were all slower compared to a year ago.

Google's advertising revenue growth was 10.6%, compared to 11% a year ago. Search revenue growth was 12.5%, compared to 12.7% in the fourth quarter of last year. YouTube ads revenue growth was 13.8% compared to 15.5% a year ago, and growth for the company's services business was 10.2%, compared to 12.4% a year ago.

The company also announced that it plans to invest $75 billion in capital expenditures in 2025 as it continues to expand on its AI strategy. That is above the $58.84 billion that Wall Street expected, according to FactSet.

Alphabet said it expects capital expenditures for the first quarter to come in between $16 billion and $18 billion, which was also higher than the $14.3 billion that was expected, per FactSet.

Alphabet's capital expenditure for the quarter was $14 billion, which is higher than the $13.26 billion Wall Street was expecting, according to StreetAccount.

Chief Financial Officer Anat Ashkenazi said on an earnings call with investors that the figure primarily reflects the company's investment in its technical infrastructure, with the largest component being investments in

Read more on cnbc.com
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