United States  

Celebrating 10 Years of Trusted News Discovery
One News Page
> > >

Alphabet misses earnings estimates, stock plummets

Video Credit: Reuters Studio - Duration: 01:44s - Published < > Embed
Alphabet misses earnings estimates, stock plummets

Alphabet misses earnings estimates, stock plummets

Google-parent Alphabet Inc missed Wall Street estimates for first-quarter revenue on Monday, amid increased scrutiny on the company’s privacy practices and efforts to restrict advertising on potentially offensive content.

Grace Lee reports.

0
shares
ShareTweetSavePostSend
 

Alphabet misses earnings estimates, stock plummets

Google-parent Alphabet Inc missed Wall Street estimates for first-quarter revenue on Monday (April 29), posting its slowest growth in three years.

The disappointing earnings report comes after its rivals for ad dollars, Facebook, Snapchat, Amazon and Twitter all posted results that were in line or above analysts' expectation last week.

So investors dumped shares in after hours trading, pushing the stock down over 7 percent.

Reuters reporter Paresh Dave.

"I think what we see here is investors sort of concern that in the future it seems like there's going to be more privacy constraints put on tech companies to limit their ability to track users and sell these really lucrative targeted ads.

And there's going to be more pressure on the companies to really step up moderation of content on places like YouTube.

All of that's going to increase costs.

On the one side and push down revenues on the other side and investors are worried that this is the start of it." Google and its rivals are all facing rising costs as they deal with data privacy issues.

For example advertisers want tighter controls on YouTube so that they don't appear to be sponsoring adult or offensive content.

And in the first quarter Alphabet's expenses also included a $1.7 billion fine from the European Commission for having placed anticompetitive advertising restrictions on websites using its searches.

About 85 percent of Alphabet's revenue comes from Google's ad business, which sells links, banners and commercials across its own websites and apps and those of partners.

Chief Executive Sundar Pichai said revenue slowdowns should be expected as the company focuses on the long term.




You Might Like


Recent related videos from verified sources

Wall Street Takes A Pause After Breaking Records [Video]Wall Street Takes A Pause After Breaking Records

Reuters reports that the S&P 500 and Nasdaq broke above record levels on Monday as investors relaxed and took a breather following a largely positive earnings season. Investors also took notice of..

Credit: Wochit Business     Duration: 00:36Published

Jim Cramer's Reaction to Alphabet's Earnings Miss [Video]Jim Cramer's Reaction to Alphabet's Earnings Miss

Alphabet reported first-quarter revenue that missed Wall Street expectations. Revenue in the period was $36.34 billion, below forecasts of $37.3 billion. Excluding traffic acquisition costs, Alphabet..

Credit: The Street     Duration: 02:00Published

Jim Cramer Tackles Elon Musk's Tweets, Alphabet, Apple and Market Movers [Video]Jim Cramer Tackles Elon Musk's Tweets, Alphabet, Apple and Market Movers

Curious about what Jim Cramer is watching in the markets? Here's a breakdown. What Is "Shallowfake?" In an ongoing Twitter exchange between Jim Cramer and Tesla CEO Elon Musk, Musk retweeted..

Credit: The Street     Duration: 09:28Published

Wall Street Street Braces For Earnings Everywhere [Video]Wall Street Street Braces For Earnings Everywhere

(Reuters) - Wall Street’s main indexes were on course for a mixed open on Tuesday as investors assessed a barrage of earnings reports, while a slump in shares of Google-parent Alphabet was set to..

Credit: Wochit Business     Duration: 00:46Published

Google Loses $70 Billion [Video]Google Loses $70 Billion

Alphabet's stock slid by almost 8% in pre-market trading, slashing the market cap of Google's parent company by about $70 billion to $831 billion. Alphabet reported a 17% rise in first-quarter revenue,..

Credit: Rumble     Duration: 00:52Published

Google Parent Alphabet's Stock Falls After Earnings Miss Expected Revenue [Video]Google Parent Alphabet's Stock Falls After Earnings Miss Expected Revenue

Alphabet released its first quarter earnings on Monday after the bell, posting a slightly lower-than-expected $36.34 billion in revenue, lowering their stock price in after hours trading on Monday.

Credit: Cheddar Inc.     Duration: 02:15Published

What Jim Cramer Expects From Alphabet's Earnings [Video]What Jim Cramer Expects From Alphabet's Earnings

Real Money's Stock of the Day, Alphabet , is reporting earnings after the bell Monday. Analysts expect the company to report an earnings per share (EPS) of $10.56. Cramer will break down what he..

Credit: The Street     Duration: 00:35Published

Jim Cramer on Alphabet Earnings, Disney, and Market Movers [Video]Jim Cramer on Alphabet Earnings, Disney, and Market Movers

Happy Monday. Jim Cramer is kicking off the week with Disney's all-time high, a preview of Alphabet's earnings and what stocks are moving the market Monday. Disney's All-Time High Walt Disney ..

Credit: The Street     Duration: 12:29Published

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.