Alphabet misses by $1.12, beats on revs; co "experienced a significant slowdown in ad revenues" in March
- Reports Q1 (Mar) earnings of $9.87 per share, $1.12 worse than the S&P Capital IQ Consensus of $10.99; revenues rose 13.3% year/year to $41.16 bln vs the $40.29 bln S&P Capital IQ Consensus.
- "Our business, led by Search, YouTube, and Cloud, drove Alphabet revenues to $41.2 billion, up 13% versus last year, or 15% on a constant currency basis," said Ruth Porat, Chief Financial Officer of Alphabet and Google. "Performance was strong during the first two months of the quarter, but then in March we experienced a significant slowdown in ad revenues. We are sharpening our focus on executing more efficiently, while continuing to invest in our long-term opportunities."
--> +3% in After Hours