Alphabet Drops 12.31% After Reporting Third-Quarter Results

After-the-fact Expert

Alphabet shares plunged 12.31% today after the company reported EPS of $2.12 versus an estimate of $3.11. Revenue increased 25% to $127.6 billion, while Google Cloud revenue rose 103% to $30.7 billion. The supplied facts do not establish a definitive catalyst for the stock’s decline.  For informational and educational purposes only. Not financial advice.  #Alphabet #GOOG #Earnings #StockMarket

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00:00Alphabet plunged 12.31% today. What happened? The sell-off followed Alphabet's quarterly

00:07results. In its SEC filing, the company reported earnings per share of 2.12, compared with an

00:15estimate of 3.11. That shortfall overshadowed the growth highlighted in the release, including

00:22stronger revenue across the business. The key takeaway is that investors were reacting to

00:28earnings coming in well below expectations, even as Alphabet presented solid operating

00:34growth in several areas. Communication services fell 1.87% today, so this went much further

00:43than the sector did. A new post-market recap every trading day.

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