Alphabet Stock Drops 6% on Google Cloud's Slowing Growth
Both classes of Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG) stock declined in Tuesday's after-hours trading, following the technology giant's release of its third-quarter 2023 report. Class A and Class C shares fell 6.1% and 5.9%, respectively.
These drops are largely attributable to Google Cloud growing slower than Wall Street had expected. That said, the quarter's revenue and earnings still managed to surpass the analyst consensus estimates.
Here's an overview of Alphabet's Q3 results, centered around four key metrics.
Source Fool.com
Alphabet Inc. A Stock
€149.94
0.740%
The stock is an absolute favorite of our community with 96 Buy predictions and no Sell predictions.
As a result the target price of 177 € shows a slightly positive potential of 18.05% compared to the current price of 149.94 € for Alphabet Inc. A.
