Alphabet Stock Drops on Earnings Miss, Anemic Ad Sales Growth
Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG) reported third-quarter 2022 results after the market close on Tuesday. Following the release, Class A (GOOGL) and Class C (GOOG) shares of the Google parent and technology giant declined 6.6% and 6.7%, respectively, in Tuesday's after-hours trading session.
Investors' negative reaction can be attributed in part to the quarter's revenue and earnings missing Wall Street's expectations. Moreover, that revenue edged up just 2.5% in the company's core advertising business likely suggests to some investors that further slowdowns in the U.S. and world economies -- including a U.S. recession -- could be on the horizon.
Here's an overview of Alphabet's third-quarter results, centered around four key metrics.
Source Fool.com
