Heres Why Alphabets Stock Is Down Today
Google parent company Alphabet's stock fell about 5 in after-hours trading Thursday after the company posted weaker-than-expected results for the first quarter of 2016. Alphabet posted adjusted Q1 earnings of 7.50 per share on 20.26 billion in revenue. Analysts polled by Thompson Reuters expected the Mountain View, Calif. firm to report earnings of around 7.97 per share and 20.37 billion in revenue. Still, there are bright spots for Alphabet investors. Overall revenues are up 17 year-over-year, for instance. But losses from the company's "Other Bets" category, which includes "moonshot" efforts like self-driving cars and smart home technology, grew nearly 27. The cost that advertisers pay Alphabet when a user clicks on an ad, meanwhile, is down 9 on the year.