Breaking: Alphabet $GOOGL plunged nearly 9% after missing earnings expectations.
Revenue reached $127.58 billion, compared with the expected $128.22 billion.
Annual revenue grew 25%, driven by Google Cloud surging 103% to $30.7 billion. However, Google Search and YouTube ad revenue fell short of expectations.
Earnings per share fell to $2.12, down 26% from $2.87 last year.
Investors were disappointed as the operating margin declined from 34% in the second quarter to 31.8% this quarter.
Revenue reached $127.58 billion, compared with the expected $128.22 billion.
Annual revenue grew 25%, driven by Google Cloud surging 103% to $30.7 billion. However, Google Search and YouTube ad revenue fell short of expectations.
Earnings per share fell to $2.12, down 26% from $2.87 last year.
Investors were disappointed as the operating margin declined from 34% in the second quarter to 31.8% this quarter.
