Google reported profit and sales that topped estimates, lifted by robust sales of online ads and tighter cost controls, putting parent Alphabet Inc. on track to overtake Apple Inc. as the world’s most valuable company.

The results, reported for the first time under a new structure that separates Google’s main search and advertising operations from riskier investments, show that fourth-quarter revenue, excluding sales passed on to partners, rose 19 percent to $17.3 billion. That exceeded analysts’ average projection for $16.9 billion, according to data compiled by Bloomberg. Profit, before certain items, was $8.67 a share, beating the prediction for $8.08.

Google, which has been investing in artificial intelligence, self-driving cars, and health technology, changed its name and structure last year to give investors a clearer view into the performance of its Web business and the money Alphabet chief executive Larry Page is devoting to new projects. The health of Google’s main business and investor confidence in the company’s ability to innovate have helped to more than double the stock price in the past three years.

“It’s a very healthy bottom-line beat,’’ said Josh Olson, an analyst at Edward Jones & Co. “This new transparency is going to help. The core business looks very healthy.’’

The shares Alphabet, based in Mountain View, Calif., rose as much as 9.4 percent in extended trading. The stock advanced 1.2 percent to $770.77 at the close in New York, giving it a market capitalization of $523.1 billion, compared with $534.7 billion for Apple.

The new structure is designed to accelerate Google’s forays into businesses beyond ad sales, by giving the newer divisions more flexibility. The shift to Alphabet has also given more freedom to top executives who would otherwise want to run their own companies.

Investors also learned how expensive the company’s futuristic ambitions are. Alphabet’s “Other Bets’’ category had an operating loss of $3.57 billion for the year, widening from $1.94 billion in 2014, while revenue from these units rose 37 percent to $448 million.

These bets span from robotics and Internet-beaming balloons to self-driving cars. “They are not distractions,’’ said Ivan Feinseth, chief investment officer of Tigress Financial Partners LLC. “They provide Google with insights and opportunities into other things that are complementary to their other businesses and could be future-leading businesses.’’