Read More...
FILE PHOTO: A man walks through light rain in front of the Hey Google booth under construction at the Las Vegas Convention Center in preparation for the 2018 CES in Las Vegas
(Reuters) – Alphabet Inc fell short of analysts’ estimates for third-quarter profit on Monday, hit by aggressive spending by its Google unit on marketing and hardware development.
The company reported a net income of $7.07 billion, or $10.12 per Class A and B common share and Class C capital share, in the three months ended Sept. 30, from $9.19 billion, or $13.06 per share, a year earlier.
Revenue jumped 20% to $40.5 billion.
Analysts on average had expected revenue of $40.33 billion and earnings of $12.44 per share, according to IBES data from Refinitiv.
(Reporting by Munsif Vengattil in Bengaluru and Paresh Dave in San Francisco; Editing by Sriraj Kalluvila)
Add Comment