Google (GOOGL) Mixed, Beyond Meat (BYND) Beats but Falls
On a day that saw the S&P 500 close at an all-time high this afternoon, Alphabet (GOOGL), the parent company of Google, reported mixed results in its Q3 earnings report. Earnings of $10.12 per share badly missed estimates of $12.57 per share, which itself was down more than 3.5% year over year. Revenues, on the other hand, got to $33 billion in the quarter (subtracting Traffic Acquisition Costs, or TAC; Google's top-line headline number was $40.50 billion), better than the $32.84 billion in the Zacks consensus. And that $33 billion represents growth of 20% year over year.
Shares are down 1.76% at this hour, as traders await the conference call from the behemoth Mountain View, CA company. Advertising revenues in the quarter rose 17% to $33.9 billion, Properties grew $28.6 billion and Cloud-based revenues reached $6.4 billion. Paid clicks were up 18% from a year ago, while cost-per-click fell 2%. The company has also made 20,000 new hires in the past year -- Alphabet now employs 114,096 people.
On the smaller side of things, Beyond Meat (BYND) also posted Q3 earnings results after the closing bell today, beating on both top and bottom lines for the second-straight quarter: 6 cents per share topped estimates by a penny, while sales of $92 million outperformed the $82.56 million analysts were looking for. Yet shares are selling off 15% on the news, though this likely has more to do with the lockup period on share ownership expiring tomorrow.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
On the small side of things, Beyond Meat (BYND) also posted Q3 earnings results after the closing bell today, beating on both top and bottom lines for the second-straight quarter: 6 cents per share topped estimates by a penny, while sales of $92 million outperformed the $82.56 million analysts were looking for. Yet shares are selling off 15% on the news, though this likely has more to do with the lockup period on share ownership expiring tomorrow.On a day that saw the S&P 500 close at an all-time high this afternoon, Alphabet (GOOGL), the parent company of Google, reported mixed results in its Q3 earnings report. Earnings of $10.12 per share badly missed estimates of $12.57 per share, which itself was down more than 3.5% year over year. Revenues, on the other hand, got to $33 billion in the quarter (subtracting Traffic Acquisition Costs, or TAC; Google's top-line headline number was $40.50 billion), better than the $32.84 billion in the Zacks consensus. And that $33 billion represents growth of 20% year over year.
Shares are down 1.76% at this hour, as traders await the conference call from the behemoth Mountain View, CA company. Advertising revenues in the quarter rose 17% to $33.9 billion, Properties grew $28.6 billion and Cloud-based revenues reached $6.4 billion. Paid clicks were up 18% from a year ago, while cost-per-click fell 2%. The company has also made 20,000 new hires in the past year -- Alphabet now employs 114,096 people.
On the small side of things, Beyond Meat (BYND) also posted Q3 earnings results after the closing bell today, beating on both top and bottom lines for the second-straight quarter: 6 cents per share topped estimates by a penny, while sales of $92 million outperformed the $82.56 million analysts were looking for. Yet shares are selling off 15% on the news, though this likely has more to do with the lockup period on share ownership expiring tomorrow.
Click to get this free report Alphabet Inc. (GOOGL) : Free Stock Analysis Report Beyond Meat, Inc. (BYND) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
