Alphabet Shares Down 4% on Q1 Earnings Miss, Revenues Roughly In Line
2022.04.26 23:51
Alphabet Shares Down 4% on Q1 Earnings Miss, Revenues Roughly In Line
Alphabet (NASDAQ:GOOGL) shares were trading more than 4% lower after-hours following the company’s reported Q1 results, with earnings of $24.62 per coming in below the Street estimate of $25.96. Revenue grew 23% year-over-year to $68 billion, roughly in line with the Street estimate of $68.1 billion.
The company saw strong growth in Search and Cloud. Search revenue was up 24% and Cloud revenue was up 44%.
The company had 163,906 employees at the end of the quarter, up from 139,995 in the same period last year.
On April 20, 2022, the company’s Board of Directors authorized a repurchase of up to an additional $70 billion of its Class A and Class C shares.
Shares of GOOGL are down 18% before the after-hours slide.
Davit Kirakosyan
