“Google-parent Alphabet reported quarterly earnings that missed analysts’ estimates on Thursday,” Anita Balakrishnan reports for CNBC. “Revenue topped expectations, led by YouTube and mobile search, chief financial officer Ruth Porat said in a statement.”
“The company posted fourth-quarter earnings per share of $9.36, adjusted and excluding items, on revenues of $26.06 billion,” Balakrishnan reports. “Analysts expect[ed] Google-parent Alphabet to report earnings of about $9.64 per Class A share on $25.26 billion in revenue, according to a consensus estimate from Thomson Reuters.”
“Shares of Alphabet hit an all-time intra-day high of $861 a share on Thursday, as the broader markets hit record levels,” Balakrishnan reports. “Shares fell more than 2 percent in after-hours trading.”
Read more in the full article here.
MacDailyNews Take: Gee, that’s too bad.
Just want to see pain for Eric Mole Schidth … thats it….
Curious how much AAPL would have dropped with a similar Revenue beat and Earnings miss…
I kind of like this news. Maybe I’m a bad person for reveling in this company’s stumble.
No no, it’s perfectly okay to exercise your schadenfreude rights, especially at Google or Shamdung’s expense.
Apple can and has dropped 2% on an earning gain that was perceived as too small.
Wait a minute, these guys still need to get me my glasses!
2% is nothing. Now 10% would get interesting.
Google’s margins are reducing because they have so many wackadoddle projects. That’s why we have been hearing about groups being shut down.
This demonstrates is that the analysts are no better at guessing Alphabet’s performance than they are at guessing Apple’s.
Talking of an ‘earnings miss’ is an attempt to disguise the fact that the analysts got it wrong and then trying to shift the blame onto the company. You don’t see the TV weatherman forecasting sunshine on Monday and then on Tuesday claiming that Monday’s rain was a weather miss.
I don’t care one way or the other about Alphabet, but I do care that journalists and speculators still pay attention to analysts who consistently screw up their predictions.
Analysts are very keen to regard past performance as a factor relating to future performance. Analysts should be held to that same standard and the past performance of that analyst should be mentioned whenever there is a story about any analyst predicting the future.
What nonsense. Their shares did t tumble. They down about $1.50. In pre market trading today, they’re up $2.50. Their shares are up almost $45 this week.
Sorry for the typos. Writing on my ipad, in a moving car (no, I’m not driving!).
Enjoyed studying this, very good stuff, appreciate it. “Whenever you want to marry someone, go have lunch with his ex-wife.” by Francis William Bourdillon.