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Google revenue misses estimates despite 25% growth; Alphabet shares fall

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Google revenue misses estimates despite 25% growth; Alphabet shares fall

Google parent company Alphabet Inc. came up short of Wall Street expectations despite strong revenue growth in its third-quarter results, which sent its stock falling in after-hours trading Wednesday. The Mountain View, California-based company said its net income was USD 26.17 billion in the July-September period. That's down from USD 34.98 billion in the same period a year earlier. Revenue grew 25 per cent from the same period last year to USD 127.58 billion, but that was shy of analysts' expectations. Analysts, on average, were expecting revenue of USD 127.97 billion, according to a poll by FactSet. The company earned USD 2.12 per share. Results were impacted by an USD 8.7 billion loss on equity investments in the quarter. It was not immediately clear if the reported earnings per share are comparable to the analyst estimates, which were around USD 3.01 per share. Sundar Pichai, CEO of Google and Alphabet, said in a statement that the quarter was strong and that the company is "n



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