Alphabet whiffed.
The Club stock sank on Wednesday evening after the Google parent delivered a terrible quarter with little to like beyond the cloud
Revenue in Alphabet’s second quarter did manage to increase nearly 25% year over year to $127.6 billion. But it still came up short of the $128.2 billion expected, according to the LSEG-compiled consensus estimate. Adjusted earnings per share (EPS) dropped 7% to $2.67, below the $3.02 expected.
On a GAAP basis, which included investment losses, EPS was $2.12. GAAP stands for generally accepted accounting principles. Operating income of $40.6 billion missed, though it increased 30% from the year-ago period.