Shares of Google parent company Alphabet slid after it reported that its fourth quarter revenue missed market forecasts. The technology giant’s profit rose 19% and beat expectations. But its net revenue, after subtracting advertising costs, was $37.6 billion; that’s up 18% from a year ago but below the $38.4 billion that analysts were looking for. Google — and with it, Alphabet —
makes the majority of its money from selling targeted advertising across the web, apps and Google products including its search engine and video streaming site YouTube. Investors are now also closely watching the growth of Google’s cloud business and its aspirations in the health care industry. Google agreed to buy the fitness tracker company Fitbit in November. Shares of Alphabet fell 3% Tuesday.