04:37 PM EST, 02/04/2025 (MT Newswires) -- Alphabet's (GOOG, GOOGL) fourth-quarter revenue trailed Wall Street's estimates, while the Google ( GOOG ) parent's earnings came in stronger than expected.

Revenue advanced 12% to $96.47 billion, but missed the consensus on FactSet of $96.69 billion. Per-share earnings rose to $2.15 for the December quarter from $1.64 a year earlier, compared with the Street's $2.07 view.

Class A and C shares of Alphabet were down more than 6.5% each in after-hours trade.

Google ( GOOG ) services revenue increased to $84.09 billion from $76.31 billion, driven by a jump in advertising to $72.46 billion from $65.52 billion. Search and YouTube ( GOOG ) ad sales climbed year-over-year while those for Google ( GOOG ) network slipped.

Revenue in the Google ( GOOG ) cloud segment rose to $11.96 billion from $9.19 billion.

"Our (artificial intellignence)-powered Google ( GOOG ) cloud portfolio is seeing stronger customer demand," Alphabet Chief Executive Sundar Pichai said in a statement. "Together, cloud and YouTube ( GOOG ) exited 2024 at an annual revenue run rate of $110 billion."

Alphabet is targeting about $75 billion in capital expenditures this year, Pichai said.