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Asian shares slip after Alphabet after-hours drop hits Nasdaq futures
CNA, carrying Reuters, and CNBC said Asian indexes mixed to lower Thursday after Alphabet fell in after-hours trade on a quarterly miss, pulling Nasdaq futures down about 1%.
- CNA is now reporting this
- New headline Was: “Asian shares fall as Alphabet earnings miss drags Wall St futures lower”
- Our desk filed its story
- Reuters is now reporting this
- New headline Was: “Nasdaq-100 futures dip as Alphabet shares sell off after earnings report: Live updates”
Wire reporting: (Reuters, via CNA)
Asian stock indexes were mixed to lower on Thursday after Alphabet Inc. fell in U.S. after-hours trading on a quarterly miss, pulling Nasdaq futures lower, CNA reported in a Reuters wrap and CNBC said in live market coverage1,3.
CNA, carrying Reuters, said Alphabet shares were about 10% lower after hours, with the move described as wiping nearly $400 billion off market value, and Nasdaq futures down 1%1. CNBC said Nasdaq-100 futures lost 1.2% and S&P 500 futures 0.5%, and put Alphabet's after-hours decline at about 9%3.
CNBC said Alphabet missed third-quarter adjusted earnings per share and revenue and reported negative free cash flow of $9.07 billion, while keeping full-year capital expenditure guidance at $195 billion to $205 billion3. CNA's Reuters copy attributed the drop to cash burn and said advertising, Alphabet's traditional revenue line, was under pressure even as AI-related cloud and data-center growth remained a focus1.
Microsoft Corp. rose about 3% after hours, both accounts said, after results that beat forecasts1,3. CNBC said Azure cloud infrastructure growth helped Microsoft beat on sales and profit for its fiscal first quarter, citing LSEG3.
In Asia, CNA said MSCI's Asia-Pacific index excluding Japan fell 0.7%, Japan's Nikkei was up 0.3%, mainland China blue chips were down 0.9%, and Hong Kong's Hang Seng was up 0.2%1. CNBC put the Nikkei up more than 0.49%, the Kospi down 2.44%, Australia's S&P/ASX 200 up 0.34%, the Hang Seng up 0.24%, and China's CSI 300 down 0.64%3.
Samsung Electronics reported a record third-quarter operating profit that CNA said rose nearly ninefold on AI-chip demand, yet its shares fell more than 4% and the Kospi dropped 2.6% after a nearly 7% surge a day earlier1. CNBC did not detail Samsung's profit but also reported a Kospi decline of about 2.4%3.
The Federal Reserve held its benchmark rate in a 3.75% to 4% range on Wednesday, CNBC said, after a widely expected decision3. CNA's Reuters copy said two committee members voted for a hike and that Chair Kevin Warsh's comments on inflation helped Treasuries rally1. CNBC said the statement called inflation elevated and that officials wanted more information before further steps3.
CNA said Amazon and Intel results were due later Thursday and that markets were about 80% priced for a December rate increase despite Warsh's remarks1. CNBC said Personal Consumption Expenditures data for September were due Thursday3. Reuters' own page could not be read in this filing; facts attributed to Reuters come from the CNA wire copy1,2.
Sources
How it’s being reported
2 sourcesFirst reported by
CNBC
Nasdaq-100 futures dip as Alphabet shares sell off after earnings report: Live updates
Alphabet EPS and revenue miss, negative free cash flow, and Microsoft Azure beats.
Live U.S. session wrap: Alphabet after-hours miss, Microsoft beat, Fed hold, Asia opens mixed.
Leaves out Samsung's record quarterly profit.
Asian shares fall as Alphabet earnings miss drags Wall St futures lower
Gives this outlet’s account of the story.
Same copy also at: Reuters
Where they agree
- Alphabet fell in after-hours trade after quarterly results, weighing on Nasdaq futures.
- Microsoft shares rose about 3% after hours on results that beat forecasts.
- The Fed held the federal funds rate Wednesday.
- South Korea's Kospi fell more than 2%; Japan's Nikkei and Hong Kong's Hang Seng were modestly higher.
Where they differ
Size of Alphabet's after-hours decline