Google's parent company Alphabet reported adjusted quarterly profit of $6.8 billion in the fourth quarter of 2017, missing analysts' estimates of $7 billion, Reuters reports.
Here are four things to know about Alphabet's fourth quarter results.
1. Alphabet saw fourth quarter sales climb to $32.3 billion. At the same time, the company reported a 27 percent increase in expenses to $24.7 billion in the fourth quarter of 2017, compared to the same period a year prior.
2. Alphabet's ad sales growth was offset by increased promotional spending on its cloud computing services, consumer products and YouTube video app.
3. The company's shares fell more than 5 percent after hours Thursday, steadying at a 2.7 percent loss, Reuters reports.
4. The company also took a one-time $9.9 billion tax charge under new U.S. tax legislation in the fourth quarter of 2017.
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