Alphabet reported quarterly sales and profit in the third quarter that fell short of expectations, a sign that the firm is failing to generate enough return to justify its massive investments in AI. The stock fell in late trading. Google’s parent company said sales, excluding partner payouts, were $111.2 billion for the three months that ended Sept. 30, just below the $111.3 billion that analysts had projected on average. Alphabet reported net income of $2.12 a share, falling far below Wall Street’s estimate of $2.99.

The company’s shares were down as much as 8.5% in after-hours trading.

For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with Bloomberg Tech host Ed Ludlow.

Alphabet reported quarterly sales and profit in the third quarter that fell short of expectations, a sign that the firm is failing to generate enough return to justify its massive investments in AI. The stock fell in late trading.&nbsp;Google&rsquo;s parent company said sales, excluding partner payouts, were $111.2 billion for the three months that ended Sept. 30, just below the $111.3 billion that analysts had&nbsp;projected&nbsp;on average. Alphabet reported net income of $2.12 a share, falling far below Wall Street&rsquo;s estimate of $2.99.
The company&rsquo;s shares were down as much as 8.5% in after-hours trading.
For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with Bloomberg Tech host Ed Ludlow.

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Listen for news and analysis on global technology companies and investors.&nbsp; Ed Ludlow brings you the only daily news program focused exclusively on technology, innovation and the future of business.

Bloomberg Technology is the only daily news program focused exclusively on technology, innovation and the future of business.

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Earnings Special: Alphabet Disappoints Wall Street on Revenue & Income

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