Alphabet Shares Plunge After Earnings Fall Short of Expectations Despite Cloud Growth

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Alphabet Shares Plunge After Earnings Fall Short of Expectations Despite Cloud Growth
Photo: Juliana Yamada/AP/TT

Revenue, excluding payments to partners, amounted to $111.2 billion in the previous quarter, just below analysts' expectations of $111.3 billion, according to Bloomberg.

Earnings per share were $2.12, compared with expectations of $2.99.

Revenue from cloud services amounted to $30.7 billion, beating analysts' expectations of $29.1 billion.

The race to build out AI infrastructure, both for its own use and for customers, has also driven capital spending by Google's parent company to record levels. The company reported negative cash flow for the second consecutive quarter, with a loss of $9.1 billion in the third quarter.

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By TT News Agency. English edition by Sweden Herald, adapted for our readers

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