Alphabet’s earnings fall short of expectations, while its ad income exceeds it

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Last Updated on July 27, 2022 by Bitfinsider

After the bell on Tuesday, Alphabet (GOOG, GOOGL), the parent company of Google, released profits that fell short of Wall Street expectations.

According to Bloomberg data, the IT giant said that adjusted earnings per share for the second quarter came in at $1.21 as opposed to the $1.32 analysts had predicted.

Revenue before traffic acquisition costs, or TAC, came in at $57.47 billion as opposed to the $58.14 billion that Wall Street had anticipated.

During the period, advertising income came to $56.29 billion, exceeding the $56.14 billion analysts had predicted. However, Google Services revenue fell short of forecasts, coming in at $62.84 billion instead of the expected $63.34 billion.

After-hours trading saw a 4 percent increase in the company’s share price. By Tuesday’s close, the stock had lost around 27% of its value so far this year.


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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