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Two of the world's most valuable companies have seen slides in their stock prices after releasing their quarterly results, the decline that pessimism fueled on the Asian and European stock markets on Friday.
Although both on Thursday reported bumper profits in the last quarter, revenues fell short of Google's expectations and Amazon scared the markets with a so-so to predict the holiday season of any importance to come .
"Given the current market environment, your compensation report must be perfect or your stock will be punished," said Vic Anthony, an analyst at Aegis Capital Corp.
Contributed to Google's bad day was a New York Times report that a top official, Android creator Andy Rubin, received a $ 90 million release package as he faced allegations of misconduct, and that Google had covered other allegations of sexual harassment.
Sundar Pichai Executive Chief Google sent an email to employees stating that 48 people had been terminated for sexual harassment in the past two years, including 13 who were senior and above, but that no one received a packet of exit.
Alphabet, the parent company of Google, said its third-quarter net profit rose 36 percent to $ 9.2 billion, thanks to gains from digital advertising released online and on smartphones.
Alphabet is working to diversify, with its own pixel brand of smartphones and tablets, its Google Home smart speakers gaining ground on the market leader, Amazon and services like cloud computing, another area where Amazon is strong. "Our hardware efforts are gaining momentum," Pichai told analysts at a conference call.
But the income of the alphabet fell short of expectations, rising 21 percent to $ 33.7 billion in the three months ending in September, compared to the same period a year earlier.
For its part Amazon stock is down 8.66 percent before Friday 's opening, despite seeing its quarterly net profit grow tenfold from a year earlier to $ 2.9 billion.
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