Alphabet (GOOGL), the parent company of Google, said yesterday that its revenue for the final quarter of 2018 increased to $39.3 billion.
The jump, about 22% from the same period a year earlier, was better than expected.
It was fueled in large part by Google's advertising business. Sales in that business rose 20% over the previous year to $32.6 billion.
The numbers are remarkable given that the tech sector's data privacy practices are under more scrutiny now than ever, from both regulators and consumers alike.
But the company is also paying more to support its advertising business. Alphabet said its traffic and acquisition cost — the money it pays to companies to run its ads and services — was $7.4 billion during the quarter, up from $6.5 billion a year ago.
And its operating margin for the quarter fell to 21%— a noteworthy dip from 24% a year ago.
Alphabet's stock dropped roughly 3% in premarket trading.
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