Alphabet Inc, the parent company of Google, announced Thursday that failed to meet its objectives of revenue and profits in the first quarter, which caused a drop in shares of more than 4% after the market close.
Alphabet, the world’s second largest by market capitalization, public company said its consolidated sales rose to 20,260 million dollars in the first quarter ended March 31, from 17.260 billion a year earlier.
That figure was slightly below the average analyst estimates of 20,370 billion, according to Thomson Reuters I / B / E / S. Earnings per share of $ 7.50 excluding special items not met analyst estimates of $ 7.97
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the matrix Google reported a rise of 17.4% in quarterly revenues supported in ad sales on mobile devices.
in a conference call after the announcement of the results, Chief financial Officer of Alphabet, Ruth Porat said that “as a result of the current strength of the dollar, suffer a negative currency impact on our revenues of 762 million dollars.”
Google’s revenue from advertising grew by 16.2% to 18.020 million, while the number of ad clicks, or payments- increased 29%, the company said.
the losses increased business Other Markets, which includes its broadband unit Google Fiber, household products automated Nest, cars without driver and X, the research unit of the company that works on flights to the moon.
net income totaled 4,210 million, or $ 6.02 per class a, B and C, from 3.520 billion, or $ 5.10 per share.
the company’s stock fell to $ 744.21 in after-hours operations, from a close of $ 780.
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