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Alphabet Falls After Missing Q4 Estimates

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Alphabet Falls After Missing Q4 Estimates
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Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) reported its fourth quarter earnings after the close on Thursday. Shares fell over 3 percent following the release.

  • Alphabet reports Q4 EPS $9.36, missing by $0.28
  • Revenues $21.22 billion, beats by $640 million
  • Alphabet did not issue guidance

“Our growth in the fourth quarter was exceptional -- with revenues up 22% year on year and 24% on a constant currency basis. This performance was led by mobile search and YouTube. We’re seeing great momentum in Google’s newer investment areas and ongoing strong progress in Other Bets,” said CFO Ruth Porat.

According to a report from Marketwatch, analysts are predicting that Alphabet will shift into more cloud centered business as Google’s search business slows.

Shares of GOOGL traded recently at $839, down 2 percent in the after-hours session.

Posted-In: Earnings News After-Hours Center Movers Tech Best of Benzinga

 

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