Google Falls Short, Sending Stock Lower: Blog Recap
NEW YORK (
) --
(GOOG) - Get Alphabet Inc. Class C Report
kicked off tech earnings season when it reported
after Thursday's closing bell.
Following two quarters of solid estimate beats, analysts expected more of the same. Instead, the search giant delivered a slight miss, posting adjusted earnings of $8.08 a share vs. the average analysts' view of $8.10.
Quarterly sales, excluding traffic acquisition costs (the amount Google pays to affiliates to bring traffic to its network), came in at $6.5 billion, above the consensus $6.32 billion.
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Google shares fell more than 5% in the after-hours session with volume exceeding 2.1 million, according to
Nasdaq.com
.
--Blog written by James Rogers and Scott Moritz in New York.
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