Google, pardon Alphabet, may have just killed the strong earnings narrative. Moments ago advertising behemoth (with various ancillary services) GOOGL reported Q1 earnings and sales, and both were a miss.
- ALPHABET 1Q ADJ. EPS $7.50, EST. $7.96
- ALPHABET 1Q REV. EX-TAC $16.5B, EST. $16.6B
Virtually every other data point was also a miss:
- ALPHABET 1Q AGGREGATE PAID CLICKS UP 29%, EST. UP 32%
- ALPHABET 1Q ADJ. OPER NET $6.84BB, EST. $6.75B
- ALPHABET 1Q AGGREGATE COST-PER-CLICK DOWN 9%, EST. DOWN 11%
- ALPHABET 1Q CAPITAL EXPENDITURES $2.43B, EST. $2.65B
The stock, which last year repriced higher in a dramatic fashion following blowout late year quarter, has just retraced most of its gains.
Worse, with Microsoft also reporting and missing…
- MICROSOFT 3Q ADJ. EPS 62C, EST. 64C
- MICROSOFT 3Q REVENUE $20.5BN, EST $22.1BN
… and sliding…
Not only is the FANG complex all sliding,
… but the entire Nasdaq future is getting monkeyhammered after hours.