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Alphabet reports $127.6 billion in Q3 revenue; Google Cloud revenue doubles to $30.7 billion

MarketWatch +6 · ·by G4L

GOOGL Alphabet Inc
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  1. 1Alphabet recorded $127.6 billion in revenue for the third quarter, representing 25% year-over-year growth.
  2. 2Alphabet's Google Cloud revenue more than doubled to $30.7 billion in the third quarter.
  3. 3Alphabet shares fell more than 11% in after-hours trading, erasing over $280 billion in market capitalization.

So what's the key point?

Alphabet's revenue grew 25% compared to last year, and Google Cloud revenue more than doubled, yet the stock price fell by more than 11%. Despite the company's earnings growth, its stock value decreased significantly.

Source MarketWatch +6 · View original ↗

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