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Jim Cramer's Reaction to Alphabet's Earnings Miss

Credit: The Street
Published on April 30, 2019 - Duration: 02:00s

Jim Cramer's Reaction to Alphabet's Earnings Miss

Alphabet reported first-quarter revenue that missed Wall Street expectations.

Revenue in the period was $36.34 billion, below forecasts of $37.3 billion.

Excluding traffic acquisition costs, Alphabet reported revenue of $29.48 billion, up 19% from a year earlier but below estimates of $30.04 billion.

Earnings of $11.90 a share topped Wall Street forecasts of $10.60.

The per-share earnings figures backed out the impact of a $1.7 billion fine imposed by the European Union that Alphabet said it would be booking during the quarter.

Net income in the first quarter was $6.66 billion, which included the EU fine for Alphabet's skirting of antitrust practices and abusing its dominant position in online advertising to hurt competitors.

And, in case you forgot, Jim Cramer called that Alphabet would be taking a tumble in his live show Monday morning.

He said that he was "concerned" about the earnings report.

Cramer said that, "there's always something that makes people feel like it's not as good" about the earnings reports.

Related.

Jim Cramer: This Market May Not Be Overvalued

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