Google’s Alphabet And Amazon Shares Have Fallen After The Q3 Reports

Google's Alphabet And Amazon Shares Have Fallen After The Q3 Reports

Amazon and Alphabet released their third quarter financial results this afternoon. Amazon’s net profit for the period was high at a factor of 10 of $2.8 billion, up from the third quarter of last year.

In addition, earnings per share of $ 5.75 were crushed by Wall Street forecasts calling for earnings per share of $3.14 in the third quarter. Normally, both pieces of information should have resulted in a frenzied purchase of the title. Instead, the vendors took over the publication of the report.

Instead of third-quarter earnings, investors focused on something else. The creator of virtual assistant Alexa and the Echo smart speaker estimated operating profit in the fourth quarter in the range of 2.1 to 3.6 billion dollars, a level lower than the previous forecast of 3, $9 billion for the period.

The company also lowered its fourth-quarter revenue forecast from $ 66.5 billion to $ 72.5 billion, below the consensus of $73.79 billion set by Wall Street.

Google’s parent, Alphabet, also announced today higher than expected earnings for the third quarter. The company’s earnings per share for the three-month period from July to September was $13.06, compared to $10.42 per share, according to Wall Street forecasts. But revenues of $ 33.7 billion were lower than the forecast of $34.04 billion from Wall Street. With a turnover of $33.5 billion, Google has accounted for most of the Alphabet revenue during the quarter. Google has generated advertising revenue of nearly $ 29 billion over these three months.

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