The numbers fell short of expert expectations.
(Photo: dpa)
Bangalore Sluggish corporate advertising spending is wreaking havoc on Alphabet’s balance sheet. Although the Google parent announced on Tuesday an increase in group quarterly sales to 69.092 from 65.118 billion in the same period last year. Net income fell to $1.06 from $1.40 per share. Analysts had expected proceeds of $70.58 billion and a profit of $1.25 per share.
Alphabet said the operating margin fell to 25 percent from 32 percent. Ad revenue grew below average to $54.48 billion from $53.13 billion.
The stock slipped a good six percent in after-hours trading in the US.
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