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Alphabet Inc. Announces Fall In Q1 Profit, misses estimates

Alphabet Inc. (GOOGL) revealed earnings for first quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line totaled $16.44 billion, or $24.62 per share. This compares with $17.93 billion, or $26.29 per share, in last year's first quarter.

Analysts on average had expected the company to earn $25.96 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 23.0% to $68.01 billion from $55.31 billion last year.

Alphabet Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $16.44 Bln. vs. $17.93 Bln. last year.
-EPS (Q1): $24.62 vs. $26.29 last year.
-Analyst Estimates: $25.96
-Revenue (Q1): $68.01 Bln vs. $55.31 Bln last year.

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