Alphabet Inc GOOGGOOGL shares are moving lower after reporting a third-quarter earnings miss.
Third-quarter earnings came in at $10.12, which may not compare to the $12.38 estimate. Sales came in at $40.499 billion, beating estimates by $179 million.
“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,” CEO Sundar Pichai said. “We’re focused on providing the most helpful services to our users and partners, and we see many opportunities ahead.”
See Also: Report Says Google Looking To Acquire Fitbit
Highlights
- Revenues increased 21% year-over-year
- Operating margin was 26%
GOOG shares traded down 3.3% in Monday's after-hours session. The stock closed the regular session at $1,290 per share.
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