Shares of Alphabet, the parent company of Google, are down over 4% in aftermarket trade even thought the company beat Q3 earnings expectations.
The search engine conglomerate posted Q3 earnings of $9.06 per share, adjusted, on revenue of $22.45 billion. Analysts were expecting the company to report earnings of $8.63 per share on revenue of $22.05 billion.
You're not a member! Trial today
Today’s results compare to $7.35 per share, with revenue up 20% from last year’s $18.68 billion. The company also announced the approval of a buy-back of over $7 billion of its Class C shares over the next three months.
The share price initially spiked higher, posting a new high for the year at $837.35, before reversing back below $820.00 in after hours trade.
