Alphabet Inc. (GOOGL) on Thursday reported fourth-quarter earnings of $5.33 billion.

On a per-share basis, the Mountain View, California-based company said it had profit of $7.56. Earnings, adjusted for stock option expense, were $9.36 per share.

The results missed Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of $9.63 per share.

The internet search leader posted revenue of $26.06 billion in the period. After subtracting Alphabet's advertising commissions, revenue was $21.22 billion, which topped Street forecasts. Thirteen analysts surveyed by Zacks expected $20.58 billion.

Alphabet shares have increased 8 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 3 percent. In the final minutes of trading on Thursday, shares hit $856.98, a rise of 17 percent in the last 12 months.

--Associated Press