Google parent company Alphabet (GOOG, GOOGL) reported earnings that missed Wall Street estimates after the closing bell on Tuesday.
The technology giant said adjusted earnings per share hit $1.21 during the second quarter, compared to $1.32 expected by analysts, according to Bloomberg data.
Meanwhile, revenue ex-TAC – or traffic acquisition costs – came in at $57.47 billion, compared to $58.14 billion expected by Wall Street.
Ad revenue totaled $56.29 billion during the period, topping the $56.14 billion analysts had expected. Google Services revenue, however, was light of estimates at $62.84 billion against expectations for $63.34 billion.
Shares of the company jumped 4% in after-hours trading. Through Tuesday's close, the stock has fallen roughly 27% year-to-date.
(This post is breaking. Please check back for updates.)
NEW YORK, NEW YORK - JULY 04: People walk near the Google offices on July 04, 2022 in New York City. Google announced on Friday it will eliminate location history entries if it identifies an abortion center. (Photo by John Smith/VIEWpress via Getty Images)—
Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter @alexandraandnyc
Click here for the latest stock market news and in-depth analysis, including events that move stocks
Read the latest financial and business news from Yahoo Finance
Download the Yahoo Finance app for Apple or Android
Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTubeClick Here To Get Funded!