Alphabet Misses Q3 Profit Estimates, Shares Fall Over 6% in After-Hours Trading

PANews, October 29 - According to Bloomberg, Alphabet's third-quarter revenue and profit both missed market expectations, with shares falling over 6% in after-hours trading. Per Reuters, Alphabet's quarterly free cash flow was -$9.07 billion, a record cash burn, versus analyst expectations of approximately -$36 million. Alphabet's quarterly revenue was $127.6 billion, with net income of $26.2 billion and earnings per share of $2.12, missing estimates by about $0.90; Google Cloud revenue surged over 100% year-over-year to $30.7 billion, beating the expected $29.6 billion.