Alphabet (GOOGL) Misses EPS, Revenue Tops Estimates; Options Traders Split Ahead of Earnings

Investing.com - Alphabet A (NASDAQ: GOOGL) reported third quarter EPS of $2.12, $0.90 worse than the analyst estimate of $3.02. Revenue for the quarter came in at $127.6B versus the consensus estimate of $127.22B.

Alphabet A’s stock price closed at $324.89. It is down -8.77% in the last 3 months and up 18.33% in the last 12 months.

Alphabet A saw 9 positive EPS revisions and 6 negative EPS revisions in the last 90 days. See Alphabet A’s stock price’s past reactions to earnings here.

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Options traders took contrasting views on Alphabet as the hyperscaler gets set to report earnings after the close.

Current options prices are implying a nearly 6% move, well about its eight quarter median move of 2.6%. Traders were decidedly bullish heading into the first. Just before noon, a trader bought 2271 contracts of the 350/365 call spread for about $4.4. The trade target a move higher to $365, a 13% jump from its current price. The trade is a bet the in the near term,