Last quarter, Google and its parent company Alphabet easily beat Wall Street’s earnings expectations. This time it’s a miss — not a huge one, but enough to send shares down 5 percent in after-market trading.
Live: Google talks to Wall Street after a Q1 miss
Not a huge miss. But a miss.
Tyler Pina for Re/code
Peter Kafka covered media and technology, and their intersection, at Vox. Many of his stories can be found in his Kafka on Media newsletter, and he also hosts the Recode Media podcast.
Alphabet reported $16.47 billion in net revenue and $7.50 in earnings per share. The Street was looking for $16.56 and $7.96, respectively.
Alphabet’s “other bets” category — Fiber, Nest and some other odds and ends — did better than at least one analyst predicted. RBC’s Mark Mahaney thought that group would post $110 million; instead it did $166 million, up from $80 million a year ago.
But Wall Street doesn’t really care about other bets, at least for now — it’s concerned with Google’s core search, display ad and video ad business. CEO Sundar Pichai and CFO Ruth Porat will try to convince investors that they don’t have to worry on the call, which starts at 1:30 pm PT.
You can watch the call live:
https://www.youtube.com/watch?v=I9Q4_IhOpYM
And I’ll be liveblogging below.
This article originally appeared on Recode.net.
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