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Alphabet misses Wall Street revenue estimates; shares fall

Updated : October 26, 2018 06:54 AM IST

The tech company's third-quarter results fanned investor concern that big investments in new businesses, increasing regulatory scrutiny and emerging competition are producing slow and unpredictable returns.
Google ad sales contributed 86 percent of revenue, but growth slowed to 20 percent from nearly 24 percent last quarter.
The company attributed much of the slower revenue growth to unfavourable currency exchange rates. Lower ad pricing to contend with antitrust concerns, new privacy rules in Europe and increased competition from Amazon.com Inc may have played a role too, financial analysts said.
Alphabet misses Wall Street revenue estimates; shares fall
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