Google parent Alphabet's earnings disappoint Wall Street amid stiff AI competition

Shares of Google's parent company Alphabet fell more than 6% after the company reported a slight miss in expected revenue on Tuesday. The company reported 96.5bn, compared with analyst expectations of 96.67 bn. The company surpassed investors' expectations of 2.13 in earnings per share, however, with 2.15 in EPS. "Q4 was a strong quarter driven by our leadership in AI and momentum across the business," Alphabet chief executive Sundar Pichai wrote in a statement. "We are building, testing, and launching products and models faster than ever, and making significant progress in compute and driving efficiencies."