October 28, 2019 / 8:10 PM / 20 days ago

Alphabet third-quarter profit misses estimates

Oct 28 (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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below