(Reuters) - The holidays were a gift to Alphabet Inc's Google, quarterly results showed. That has been a concern for social media companies including Meta and Snap Inc. Alphabet's results drove a rally across internet advertising companies. In the fourth quarter, Alphabet's advertising revenue rose 32.5% to $61.2 billion, $4 billion above Wall Street targets, according to Refinitiv data. But with further inflation looming, Sophie Lund-Yates, equity analyst at Hargreaves Lansdown, cautioned that shares of tech companies are "unlikely to have seen the worst of the pain."

Source: The Star February 02, 2022 23:47 UTC