Alphabet Shares Slide 1.4% After 12.64% Post-Earnings Drop

Alphabet Class A shares (GOOGL) fell 1.4% Friday, Oct. 30, to $279.84 at 4 p.m. ET, following a 12.64% drop Thursday, the first trading session after the company released its quarterly results.

Diluted EPS came to $2.12 for the quarter through Sept. 30, compared with $2.87 for the same period a year earlier. Revenue advanced 25% to $127.577 billion, while operating income increased 30% to $40.576 billion.

Alphabet recorded an $8.664 billion loss on equity securities. Its other income-and-expense line shifted from $12.759 billion in net income a year earlier to an $8.221 billion expense.

Google Cloud revenue reached $30.709 billion, up 103% from the year-earlier quarter. Search and other revenue totaled $63.350 billion, a 12% gain; YouTube advertising brought in $11.207 billion, up 9%. Queries on Google Search grew at their fastest year-over-year pace in five years.

Cloud outpaced the two advertising categories on growth.