Google Earnings Disappoint

Google (Alphabet) Q3 2021 Earnings Report Recap

Alphabet's Google Cloud revenue missed expectations, as Apple’s privacy changes show a “modest impact on YouTube revenues,” — according to CFO Ruth Porat. Alphabet, the parent company of the Big Tech Google, posted Q3 revenues of $65.12 billion, surging over 40% on year. Google’s advertising revenue increased 43% to $53.13 billion while its YouTube advertising rose to $7.21 billion, beating the last year, up from $5.04 billion.

“We continue to be very focused on the benefit from better measurement, better ad delivery, better user experience,” Alphabet's Porat said. “But there will be variability over time because we’re very focused on what’s in the right long-term interest.”

Google shares fell 4,37% in the after-market.

Earnings per share (EPS): $27.99 per share vs $23.48 per share.

Revenue: $65.12 billion vs. $63.34 billion.

YouTube advertising revenue: $7.20 billion vs. $7.4 billion expected.

Google Cloud revenue: $4.99 billion vs. $5.07 billion expected.

Traffic acquisition costs (TAC): $11.50 vs. $11.16 billion expected.

Alphabet's next earnings report (for Q4 FY 2021) is set to be published on Feb. 2, 2022.

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