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- Alphabet, the parent company of Google, will report its Q1 earnings after Monday’s closing bell.
- Analysts are expecting it to be another solid quarter for the search giant, despite a growing threat to its digital ads business from Amazon.
- Visit Business Insider’s homepage for more stories.
Alphabet, the parent company of internet search giant Google, fell short of Wall Street’s revenue targets for its first three months of the year, and the stock is down over 4% in after hours trading on Monday.
Here’s what Alphabet reported:
Net Revenue (excluding TAC): $29.48 billion, up 18.6% year over year, but down from the $30.06 billion that analysts expected.
Q1 EPS (GAAP): $9.50, compared with $10.10 expected by analysts.
Other bets revenue: $170 million, compared with $150 million last year.
Other bet operating loss: ($868) million, versus ($571) million last year.
Traffic acquisition costs (TAC): $6.86 billion, or 22% of advertising revenue, compared with 24% of advertising revenue during last year.
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See Also:
- Google’s ad business is facing its biggest new threat in years, but for Google’s Q1 earnings, Amazon’s ‘bark is worse than the bite’
- A female engineer at Google said the company’s reporting system for workplace issues discouraged her from filing a complaint about a male colleague’s disturbing obsession with her feet, leading her to seek psychiatric help
- Google launched a new internal portal to help employees report workplace issues, and it’s hoping the number of reports goes up as a result
Source: Business Insider – nbastone@businessinsider.com (Nick Bastone)