大行评级丨花旗：Alphabet第四财季业绩胜预期，维持“买入”评级

Group 1 - The core viewpoint of the article highlights that Alphabet's Q4 performance exceeded expectations, driven by growth in search and cloud services revenue [1] - Total revenue reached $114 billion, representing a 17% year-over-year increase after excluding currency effects, which was about 2% higher than market expectations [1] - Operating profit was $36 billion with a profit margin of 31.6%, slightly below market expectations by approximately 2.5%, attributed to increased losses in other business segments potentially related to Waymo expenditures [1] - Earnings per share were reported at $2.82, surpassing the market forecast of $2.63 [1] - Alphabet anticipates capital expenditures for 2026 to be in the range of $175 billion to $185 billion, exceeding the previous estimate of $129 billion [1] - Citi maintains a "Buy" rating on the stock with a target price of $350 [1] Group 2 - Related events indicate that Google A shares rose by 1.1% and later by 2.6%, reaching new highs [2] - Google Cloud officially announced a price increase, contributing to the positive market sentiment [2] - Google has been recognized as a preferred stock by Citi, further enhancing its market position [2]