Alphabet Posts $26.47 Billion Q3 Profit, Misses Analyst Estimates on Earnings and Revenue

Alphabet Inc. (GOOGL) reported third-quarter earnings of $26.47 billion on Wednesday, missing Wall Street expectations as both per-share profit and revenue fell short of analyst forecasts. The Mountain View, California-based company posted net income of $2.12 per share, well below the $2.94 average estimate from 14 analysts surveyed by Zacks Investment Research. Revenue for the period totaled $127.58 billion. After subtracting advertising commissions, revenue came in at $111.21 billion, also below the $111.8 billion forecast by nine analysts surveyed by Zacks.