Softer result after market close this morning see’s GOOGL US shares trading down 5% after hours;
- Q4 revenue excluding partner payouts, was $81.6 billion, below $82.8 billion expected.
- Operating income of $30.97 billion was up +31% y/y and ahead of $30.72 billion expected.
- Capex was higher at14.28 billion vs estimate $13.21 billion
MM will assess GOOGL US results further and update our view accordingly
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