Alphabet Revenue Misses Expectations Despite Growth; Stock Drops After Earnings
- Alphabet misses revenue expectations, stock drops 4% after earnings report
- Quarterly revenue was $72B, up from $63B a year ago but below estimates
- Google Cloud revenue beat expectations at $9.2B, up 26% annually
- Ad revenue was $65.5B vs expected $65.8B
- Executives cite focus on efficiency, cost savings, and prioritizing growth areas like AI