Alphabet Inc. Announces Fall In Q1 Profit, misses estimates

(RTTNews) - Alphabet Inc. (GOOGL) revealed earnings for first quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line totaled $16.44 billion, or $24.62 per share. This compares with $17.93 billion, or $26.29 per share, in last year's first quarter.

Analysts on average had expected the company to earn $25.96 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 23.0% to $68.01 billion from $55.31 billion last year.

Alphabet Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $16.44 Bln. vs. $17.93 Bln. last year. -EPS (Q1): $24.62 vs. $26.29 last year. -Analyst Estimates: $25.96 -Revenue (Q1): $68.01 Bln vs. $55.31 Bln last year.