FILE PHOTO: A man walks through the front of the building. January 8, 2018. REUTERS / Steve Marcus /
(Reuters) – Alphabet Inc (GOOGL.O) fell short of analysts ’estimates for third-quarter profit on Monday, hit by aggressive spending by its Google unit on marketing and hardware development.
The company reported a net income of $ 7.07 billion, or $ 10.12 per share. 30, from $ 9.19 billion, or $ 13.06 per share, a year earlier.
Revenue jumped 20% to $ 40.5 billion.
Analysts on average had expected revenue of $ 40.33 billion and earnings of $ 12.44 per share, according to IBES data from Refinitiv.
Reporting by Munsif Vengattil in Bengaluru and Paresh Dave in San Francisco; Editing by Sriraj Kalluvila