Nasdaq Plunges After Microsoft Misses Top And Bottom Line; Google Tumbles On Poor Earnings
Courtesy of ZeroHedge
Google, pardon Alphabet, may have just killed the strong earnings narrative. Moments ago advertising behemoth (with various ancillary services) GOOGL reported Q1 earnings and sales, and both were a miss.
- ALPHABET 1Q ADJ. EPS $7.50, EST. $7.96
- ALPHABET 1Q REV. EX-TAC $16.5B, EST. $16.6B
Virtually every other data point was also a miss:
- ALPHABET 1Q AGGREGATE PAID CLICKS UP 29%, EST. UP 32%
- ALPHABET 1Q ADJ. OPER NET $6.84BB, EST. $6.75B
- ALPHABET 1Q AGGREGATE COST-PER-CLICK DOWN 9%, EST. DOWN 11%
- ALPHABET 1Q CAPITAL EXPENDITURES $2.43B, EST. $2.65B
The stock, which last year repriced higher in a dramatic fashion following blowout late year quarter, has just retraced most of its gains.
Worse, with Microsoft also reporting and missing…
- MICROSOFT 3Q ADJ. EPS 62C, EST. 64C
- MICROSOFT 3Q REVENUE $20.5BN, EST $22.1BN
… and sliding…
Not only is the FANG complex all sliding,
… but the entire Nasdaq future is getting monkeyhammered after hours.
And in case that was not enough, Starbucks is also sliding on a sales miss, while Visa was also sharply lower on earnings as well as not a single major company is green after reporting results this afternoon.
