Alphabet misses on earnings and revenue as YouTube falls short

Alphabet reported fourth quarter earnings after the bell Thursday. The company's stock is down more than 4% after hours.

Earnings per share (EPS): $1.05 vs $1.18 per share expected, according to Refinitiv Revenue: $76.05 billion, vs. $76.53 billion expected, according to RefinitivYouTube advertising revenue: $7.96 billion vs. $8.25 billion expected, according to StreetAccount estimates.Google Cloud revenue: $7.32 billion vs. $7.43 billion expected, according to StreetAccount estimatesTraffic acquisition costs (TAC): $12.93 billion vs. $13.32 billion expected, according to StreetAccount estimates

The company said it would take a charge of between $1.9 billion and $2.3 billion, mostly in the first quarter of 2023, related to the layoffs of 12,000 employees it announced in January. It also expects to incur costs of about $500 million related to reduced office space in Q1, and warned that other real-estate charges are possible going forward.

YouTube advertising revenue fell short of analyst expectations to $7.96 billion — down from $8.63 billion the year prior.

During the quarter, Google Cloud brought in $7.32 billion — less than analysts expected. It's still a notable gain from $5.54 billion the year prior.

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