Alphabet falls 6% as operating income, cloud sales trail estimates; analysts lower numbers
) shares fell more than 6% in pre-market Wednesday trading after the company reported weaker-than-expected gains in revenue from its cloud computing operation.of $1.55 a share on revenue of $76.7 billion. Both measures beat expectations for profit of $1.46 a share on revenue of $75.9B.
Google said revenue from search and other businesses rose 11% to $44B, and YouTube advertising revenue rose 12% to $7.9B. "As 3Q23 revenues were broadly in line while operating income was below the consensus, we expect shares to trade lower," Citi analysts wrote in a client note.
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