Alphabet profit miss sends stock down, but Google sales remain strong


It’s business as usual at Google parent company Alphabet, despite a growing number of controversies surrounding the company’s firing of former employee James Damore and a reckoning over content policies at YouTube. Alphabet posted its 2017 fourth-quarter earnings today, showing sales of $32.32 billion and profit of $9.70 per share, coming in under Wall Street expectations of $9.96 per share.

Wall Street reacted negatively to the profit miss, sending Alphabet stock down as much as 4 percent in after-hours trading. However, Google’s core ad business remains healthy, pulling in $27.27 billion in revenue and helping push Alphabet, of which Google’s ad business makes up roughly 85 percent of its business, to a 24 percent year-over-year...

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via The Verge - Tech Posts "http://ift.tt/2EvAI6P"

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