Alphabet misses sales estimates; shares tank more than 5%
In the first quarter, the tech giant posted sales of $68.01 billion, an increase of 23% from the last year but lower than $68.1 billion as expected by analysts, according to Refinitiv. Alphabet posted lowest sales growth since late 2020
By Shubhangi Mathur
Published - Apr 26, 2022, 10:10 PM ET
Last Updated - Feb 23, 2024, 09:59 AM EST
• YouTube posted sales of $6.9 billion missing Wall Street expectations of $7.5 billion
• Shares of the company fell 6.5% in after-hours trading
Google parent Alphabet Inc (NASDAQ: GOOGL) reported lower sales as YouTube missed expectations amid Russia-Ukraine war and rising inflation.
In the first quarter, the tech giant posted sales of $68.01 billion, an increase of 23% from the last year but lower than $68.1 billion as expected by analysts, according to Refinitiv. Alphabet posted lowest sales growth since late 2020.
