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posted by takyon on Tuesday April 30 2019, @05:00PM   Printer-friendly
from the eyeball-bubble dept.

Bloomberg:

Alphabet Inc. reported first-quarter revenue that missed analysts' estimates and sparked fears that advertisers are shifting some spending to digital rivals.

Shares of Google's parent company were down 7.8 percent during pre-market trading in New York Tuesday. The stock closed at a record $1,296.20 on Monday shortly before its earnings were published.

Sales came in at $29.5 billion, excluding payments to distribution partners, Alphabet said in a statement on Monday. Wall Street was looking for $30.04 billion, according to the average of analysts' estimates compiled by Bloomberg.

Lookout, Google, there are many other peeping toms who want a turn looking at our data.

See also: Alphabet had more than $70 billion in market cap wiped out, and it's blaming YouTube


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  • (Score: 3, Insightful) by Anonymous Coward on Tuesday April 30 2019, @08:12PM (1 child)

    by Anonymous Coward on Tuesday April 30 2019, @08:12PM (#836862)

    Sales came in at $29.5 billion, excluding payments to distribution partners, Alphabet said in a statement on Monday. Wall Street was looking for $30.04 billion.

    Given that they came in within 2% of an estimate on a market that fluctuates 15 to 20% daily, I say they nailed it. But enough dumbasses sell the stock because it "failed to achieve expectations" when the expectations are set by a bunch of math illiterates pulling numbers out of their asses. This says nothing at all (good or bad) about Alphabet and more about the idiocy of the buying/selling market.

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  • (Score: 2) by PartTimeZombie on Tuesday April 30 2019, @10:05PM

    by PartTimeZombie (4827) on Tuesday April 30 2019, @10:05PM (#836906)

    Yeah, growth slowed. They are still growing just not quite as much as the market decided they should.

    The market is wrong quite often, but corrects itself eventually.

    Hopefully a bunch of Trustafarians lost their inheritance and your retirement fund will maker a better return as a result.