Finansnyheder

Alphabet Q1 revenue falls short of estimates

By  | 

Via AP Business

SAN FRANCISCO (AP) — Google parent Alphabet beat analyst earnings expectations but fell short on revenue, sending its stock down more than 7% in after-hours trading.

Alphabet reported a first-quarter profit of $8.3 billion, down 6% from $8.9 billion in the year-earlier period. Profit amounted to $11.90 per share, well above Wall Street estimates of $10.60.

But that figure doesn’t include an expected charge of $1.7 billion to account for a European Union antitrust fine. The fine was imposed in March for anti-competitive practices in Google’s advertising business, referring to a specific exclusivity practice Google now says it has ended.

Including the fine, Alphabet’s profit of $6.7 billion fell short of analyst estimates.

Excluding advertising commissions that Google pays to customers, Alphabet’s revenue was $29.5 billion — falling short of the $30 billion analysts were expecting. Overall revenue rose to $36.3 billion, up 17 percent from $31.1 billion a year ago.

The company reported widening losses in its “Other Bets” category — a broad segment that includes non-Google ventures such as self-driving car business Waymo and internet-balloon subsidiary Loon. Losses grew to $868 million from $571 million a year ago.

Alphabet once again expanded its workforce, growing to 103,459 employees — adding nearly 4,700 workers in the last three months.


Print Friendly, PDF & Email

Hold dit netværk orienteret

Please Donate To Bitcoin Address: [[address]]

Donation of [[value]] BTC Received. Thank You.
[[error]]