Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Alphabet A Earnings Miss, Revenue Beats In Q3

Published 10/28/2019, 04:08 PM
Updated 10/28/2019, 04:17 PM
GOOGL
-
GOOG
-

Investing.com - Google’s parent company, Alphabet (NASDAQ:GOOGL) on Monday reported third-quarter earnings that missed analysts' expectations, despite an increase in advertising growth.

The firm reported earnings per share (EPS) of $10.12 on revenue of $40.50 billion. Analysts polled by Investing.com forecast EPS of $12.28 on revenue of $40.3 billion. That compared to EPS of $13.06 on revenue of $33.74 billion in the same period a year earlier. The company had reported EPS of $14.21 on revenue of $38.94 billion in the previous quarter.

Advertising revenues, which forms a large chunk of Alphabet’s revenues, rose to $33.9m billion during the quarter, up from around $28.9 billion a year earlier. But advertising on Google's own platforms, or Google (NASDAQ:GOOGL) Properties revenues,

Meanwhile, Alphabet’s Other Bets category, which includes smart home brand Nest, reported a wider operating loss of $941 million for the quarter, compared with a loss of $727 million in the previous year.

"I am extremely pleased with the progress we made across the board in the third quarter, from our recent advancements in search and quantum computing to our strong revenue growth driven by mobile search, YouTube and Cloud,” said Sundar Pichai, Chief Executive Officer of Google. “We’re focused on providing the most helpful services to our users and partners, and we see many opportunities ahead.”

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.