Alphabet Earnings: GOOGL Stock Drops 2% on Q3 EPS Miss

GOOG missed EPS estimates by $2.30

Alphabet (NASDAQ:GOOGL,GOOG) earnings for the tech company’s third quarter of 2019 have GOOGL stock falling in after-hours trading. This drop comes on diluted earnings per share of $10.12. That’s a far cry from Wall Street’s estimate of $12.42 for the quarter. Revenue of $40.50 billion is above analysts’ estimates of $40.32 billion, but couldn’t save GOOGL stock.

Alphabet Earnings: GOOGL Stock Drops 2% on Q3 EPS Miss
Source: Benny Marty / Shutterstock.com

Now for a more in-depth look at the most recent Alphabet earnings report.

  • Diluted EPS is down 22.51% from $13.06 in the third quarter of 2018.
  • Revenue is sitting 20.04% higher than $33.74 billion from the same time last year.
  • Operating income of $9.18 billion is a 6.37% increase over $8.63 billion from Q3 2018.
  • The Alphabet earnings report also has net income coming in at $7.07 billion.
  • That’s a 23.07% drop from the company’s net income of $9.19 billion in the same period of the year prior.

Here’s what Sundar Pichai, Chief Executive Officer of Google, says this of the third-quarter GOOGL stock earnings.

“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. We’re focused on providing the most helpful services to our users and partners, and we see many opportunities ahead.”

Alphabet will be holding a conference call to go over its results from the third quarter of 2019 today. The call starts at 5:00 p.m. Eastern Time and is also available as a webcast.

GOOGL stock was down 2.40% after the markets closed on Monday. It closed the day out up 1.95%.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/10/alphabet-earnings-hit-googl-stock/.

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