Google dips after reporting an earnings miss

  • Shares of Alphabet’s Google dropped 2.44% on Thursday after it reported quarterly earnings that missed Wall Street’s estimates.
  • Google reported revenue of $US25.9 billion, below Wall Street’s estimates of $US26.23 billion.
  • It reported non-adjusted earnings of $US9.70 per share, compared to analysts’ estimates of $US10.04 per share.
  • Its traffic acquisition costs, a concern for Wall Street observers, was $US6.45 billion, up from $US4.85 billion a year ago.
  • The company also announced that John Hennessy was appointed as chairman of the board. He replaced Eric Schmidt, who stepped down several weeks ago.
  • Watch Google’s stock price move in real time here.

Read more about the companies that Goldman Sachs believes will dominate the cloud market.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at