Alphabet’s stock sinks after shocking investors with top-and-bottom line miss
Alphabet Inc., the parent company of Google, missed market expectations on both earnings and revenue in Q3, triggering a sharp 9% decline in stock price during after-hours trading. The adjusted earnings per share came in at $2.67, well below analyst estimates. The company also reported a substantial decrease in free cash flow, raising concerns about profitability and operational efficiency.
Key points
- Stock fell 9% in after-hours trading on earnings miss
- Q3 adjusted EPS of $2.67 fell short of expectations
- Free cash flow declined notably during period
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