Alphabet, Google’s parent company, reports stronger than expected overall revenue but stock falls in after-hours trading
Google is doing well, but not well enough for investors. On Tuesday, parent company Alphabet reported a stronger than expected overall revenue for the quarter but missed analyst expectations in its closely watched Google Cloud business.
Alphabet stock fell in after-hours trading after the tech giant announced strong third-quarter earnings on Tuesday following months of modest growth. It reported third-quarter revenue of $76.69bn, up 11% year-over-year and above analyst predictions of $75.9bn. YouTube’s advertising revenue was $7.95bn compared with a predicted $7.81bn. However, Google Cloud revenue was a miss at $8.41bn compared with a predicted $8.64bn, stoking investor concerns that the company risks falling further behind competitors like Amazon and Microsoft, cloud computing behemoths in their own right.
Continue reading…
Alphabet, Google’s parent company, reports stronger than expected overall revenue but stock falls in after-hours trading
Google is doing well, but not well enough for investors. On Tuesday, parent company Alphabet reported a stronger than expected overall revenue for the quarter but missed analyst expectations in its closely watched Google Cloud business.
Alphabet stock fell in after-hours trading after the tech giant announced strong third-quarter earnings on Tuesday following months of modest growth. It reported third-quarter revenue of $76.69bn, up 11% year-over-year and above analyst predictions of $75.9bn. YouTube’s advertising revenue was $7.95bn compared with a predicted $7.81bn. However, Google Cloud revenue was a miss at $8.41bn compared with a predicted $8.64bn, stoking investor concerns that the company risks falling further behind competitors like Amazon and Microsoft, cloud computing behemoths in their own right. Continue reading…Technology | The Guardian