Alphabet results miss on earnings and revenues

Alphabet reported weaker-than-expected earnings and revenue for the first quarter on Tuesday. The stock slid more than 5% in extended trading. The company reported $54.66 billion in advertising revenue for the quarter.

The results refer to earnings of $24.62 per share, versus $25.91 expected. Revenue reading is $68.01 billion, versus $68.11 billion expected. Wall Street is also watching other key numbers in the Alphabet results as follows:

Google’s shares are moving lower after its parent company, Alphabet, posted disappointing earnings and revenue for the first quarter. YouTube advertising revenue: $6.87 billion expected versus $7.51 billion expected. Google Cloud revenue: $5.82 billion versus $5.76 billion expected. Traffic acquisition costs (TAC): $11.99 billion versus $11.69 billion expected.