Google crashes on earnings miss

Google parent company Alphabet just reported its Q1 earnings!

It had a slight beat on the top line but missed on the bottom, sending the stock down about ~8% after hours.

Here are the most important numbers:

Revenue: $20.35 billion, up 17% year-on-year, versus analyst expectations of $20.38 billion

Earnings per share: $7.50 versus $7.96 expected

This is only the second time that the company has broken out its Google business from its "Other Bets" like smarthome company Nest, its life sciences business Verily, and its super-fast internet service, Fiber.

It reported revenue of $116 million and operating loss of $802 million. Last quarter, Alphabet reported 2015 yearly revenue and operating losses for Other Bets at $448 million and $3.56 billion, respectively.

The other important numbers are cost per click (how much Google can charge for its ads) and paid clicks, (how many times people click those ads). CPC has been decreasing for years, while paid clicks continues to grow. Google has blamed the CPC decline on the growth of YouTube "TruView" ads, but mobile ad prices still haven't caught up to desktop yet, so we'll be listening for any indication that that gap has narrowed.

Wall Street will also be looking for any color around YouTube, the Android Play Store, and Google's enterprise cloud business.

Follow along!