Alphabet Climbs Off Worst Levels But Remains Firmly Negative

(RTTNews) - Shares of Google parent Alphabet Inc. (GOOGL) have climbed well off their worst levels of the day but remain firmly in negative territory in late-day trading on Friday. After hitting its lowest intraday level in well over five months, Alphabet is currently down by 2.5 percent.

Alphabet gapped open sharply lower after reporting third quarter earnings that exceeded analyst estimates but on weaker than expected revenues.

While Alphabet reported earnings of $13.06 per share compared to analyst estimates for $10.42 per share, the company's revenues of $33.7 billion fell short of expectations for $34.1 billion.