谷歌：25 年第四季度回顾：加大投资支撑业务

Alphabet Inc. (GOOGL) Q4'25 Review: Leaning Into Investments in Support of Scaling Industry Leadership (Across Both Consumer & Enterprise Computing) GOOGL 12m Price Target: $400.00 Price: $333.04 Upside: 20.1% Alphabet's Q4'25 earnings report revolved around a few key themes: 1) Search & Other demonstrated strong growth (accelerating again) with strong momentum in the commerce vertical mentioned; 2) YouTube Ads segment revenue growth missed our estimates (decelerating from last quarter) but with management ...