Q3 sales come in at $127.58 billion, below the $128.22 billion consensus

Revenue falls short of market forecast by about $640 million

Earnings per share of $2.12 miss Wall Street's $3.02 estimate by wide margin

Alphabet, the parent company of Google, said it will continue to accelerate investment in AI infrastructure this year, with capital expenditures expected to reach up to $205 billion. [Reuters]
Alphabet, the parent company of Google, said it will continue to accelerate investment in AI infrastructure this year, with capital expenditures expected to reach up to $205 billion. [Reuters]

Alphabet, the parent company of Google, reported third-quarter earnings that fell short of market expectations, with both revenue and earnings per share coming in below Wall Street forecasts.

Alphabet said Wednesday (local time) that third-quarter sales reached $127.58 billion.

That figure came in about $640 million below the $128.22 billion consensus estimate compiled by the London Stock Exchange Group, missing the market forecast by roughly 0.5 percent.

The shortfall was even more pronounced on the profitability side.

Alphabet posted third-quarter earnings per share of $2.12, well below the Wall Street consensus of $3.02 — a gap of $0.90, or about 29.8 percent below expectations.

With both revenue and earnings per share missing estimates, Alphabet's third-quarter results fell short of what Wall Street had anticipated.


sjy@heraldcorp.com