Google parent company Alphabet (GOOG, GOOGL) reported earnings that missed Wall Street estimates after the closing bell on Tuesday.
The technology giant said adjusted earnings per share hit $1.21 during the second quarter, compared to $1.32 expected by analysts, according to Bloomberg data.
Meanwhile, revenue ex-TAC – or traffic acquisition costs – came in at $57.47 billion, compared to $58.14 billion expected by Wall Street.
Ad revenue totaled $56.29 billion during the period, topping the $56.14 billion analysts had expected. Google Services revenue, however, was light of estimates at $62.84 billion against expectations for $63.34 billion.
Shares of the company jumped 4% in after-hours trading. Through Tuesday’s close, the stock has fallen roughly 27% year-to-date.
(This post is breaking. Please check back for updates.)
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Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter @alexandraandnyc
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