In the fourth quarter, Google’s parent company, Alphabet, surpassed analysts' expectations across several key revenue metrics. Total revenue soared to $113.83 billion, outpacing the projected $111.4 billion. Similarly, revenue excluding traffic acquisition costs climbed to $97.23 billion, also exceeding the anticipated $95.17 billion. Despite these positive results, YouTube’s advertising revenue fell short of expectations, and operating profit was lower than analysts had forecast. Moreover, Alphabet’s capital expenditures significantly exceeded predictions. Notably, the monthly active users of Google’s advanced large model, Gemini, surpassed 750 million in the fourth quarter. Looking ahead, the company anticipates capital expenditures for 2026 to range between $175 billion and $185 billion, surpassing analyst expectations once again. Following these announcements, Google’s Class A shares plummeted by 7.5% in after-hours trading on the U.S. stock market. In contrast, shares of NVIDIA and Broadcom experienced gains, rising by 1% and 5%, respectively.