Google Parent company beats expectations with $8.9bn Profit

The parent company of Google, Alphabet went beyond it’s expectations as it’s quarterly earnings topped Wall Street expectations on Monday but shares slipped, with investors apparently focused on rising costs at the technology giant.

Alphabet reported a profit of $8.9 billion on revenue that was up 22 percent to $39.3 billion from the same period a year earlier.

“With great opportunities ahead, we continue to make focused investments in the talent and infrastructure needed to bring exceptional products and experiences to our users, advertisers and partners around the globe,” said Alphabet chief financial officer Ruth Porat.

Alphabet shares were down 3.5 percent to $1,101 in after-market trades that followed release of the earnings figures from the final three months.

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