Google Earnings Miss As Cloud Computing Booms, Search Growth Slows

연합뉴스-Yonhap News Agency

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(San Francisco = Yonhap News) Correspondent Kwon Young-jeon = Google's parent company, Alphabet, recorded over 100% growth in its cloud business, yet its overall performance fell short of expectations and...

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Google's revenue fell short of expectations, the stock plunged in after-hours trading. Google's parent company Alphabet released third-quarter financial results that disappointed Wall Street. Despite strong, more than double-digit growth in its cloud business, the company's total revenue and profit fell short of expectations, sending the stock plummeting in after-hours trading. US Stock Exchange, USA, Stock Exchange, Stock, Investing, Alphabet, …

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Google reported lower than forecast advertising revenues and sales, although Google Cloud exceeded estimates and grew by 103%. After disclosing the results, its actions retreated strongly in post-closure operations. The publication of the results was the confirmed catalyst of the reaction; the specific reason for the fall was not identified.