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Alphabet, the parent company of internet search giant Google, has not achieved Wall Street's revenue targets for its first three months of the year, and the stock has lost 5% this Monday.
"We recorded strong growth, driven by search engines for mobile, YouTube and Cloud, with revenues of $ 36.3 billion, up 17% from last year, or 19% at constant exchange rate, "said Ruth Porat, chief financial officer of Alphabet and Google in a statement on Monday.
A slowdown in Google's advertising revenue could explain the missed goals. Google's ad revenue has only increased by 15% from one year to the next in the first quarter of 2019, compared to a growth rate of over 24% in the first quarter of 2018 .
Here's what Alphabet has reported:
Net income (excluding TAC): $ 29.48 billion, up 18.6% year-on-year, but less than the $ 30.04 billion expected by analysts.
Q1 EPS (GAAP): USD 9.50 (including a fine of USD 1.7 billion), compared to USD 10.10 expected by analysts.
Other betting income: $ 170 million compared to $ 150 million last year.
Other loss of operation: ($ 868) million, compared to $ (571) million last year.
Traffic Acquisition Costs (TAC): $ 6.86 billion, or 22% of advertising revenue, compared to 24% of advertising revenue last year.
Google capital expenditures: $ 4.6 billion compared to $ 7.3 billion for the same period last year.
employees: 103,459 people, adding more than 4,600 employees to its payroll in the first quarter.
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