Alphabet’s investment-fueled earnings beat overshadowed by concerns about Google’s spending.
Therese Poletti 5-6 minutes Alphabet Inc. reported stronger-than-expected profits Monday , thanks to a mysterious investment gain, but shares fell in after-hours trading amid displeasure with a hefty jump in spending. Google’s parent company was partly boosted by a mysterious investment gain of $1.3 billion, that it only described as an “unrealized gain recognized in OI&E [other income and expenses] related to a non-marketable debt security.” Alphabet’s diluted earnings would have been approximately $10.91 a share, just above the FactSet consensus estimate of $10.86 a
