Google Stock Falls On Earnings Miss
Google-parent Alphabet (GOOGL) on Tuesday reported March-quarter earnings and revenue that missed Wall Street targets.
GOOGL stock fell as YouTube advertising growth fell short of expectations amid rising competition with TikTok.
After the market close, Alphabet said first-quarter earnings fell 6% to $24.62 per share.
Google reported a loss of $1.07 billion on equity investments, reducing profit by 99 cents per share.
The company reports earnings under generally accepted accounting principles, also known as GAAP.
Also, gross revenue rose 23% to $68.01 billion. Analysts had predicted Google earnings of $25.74 per share on revenue of $68.05 billion.
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