Alphabet revenue misses estimates despite 25% growth
In short
Alphabet said on Wednesday that its third-quarter revenue rose 25% to USD 127.58 billion, but that was still below the USD 127.97 billion analysts expected. Net income was USD 26.17 billion, down from USD 34.98 billion a year earlier.
The numbers matter because investors wanted a bigger beat, and Alphabet shares fell after hours. The report does not say why revenue missed estimates.
What the reporting says
Alphabet reported third-quarter results from Mountain View, California, on Wednesday, with revenue rising 25% year on year to USD 127.58 billion but still missing Wall Street expectations of USD 127.97 billion. Net income fell to USD 26.17 billion from USD 34.98 billion a year earlier. Shares fell in after-hours trading. The report does not state the reason for the miss or how long the stock decline lasted.
Why it matters
Alphabet reported third-quarter results from Mountain View, California, showing revenue of USD 127.58 billion and net income of USD 26.17 billion. Revenue was up 25% from a year earlier but still below the USD 127.97 billion analysts expected, according to the source summary. The immediate market reaction was an after-hours share decline. The reporting does not say what drove the miss or how far shares fell.