Alphabet dips on earnings miss

The company's stock fell as much as 4% in after hours trading.$10.12 vs. $12.42 per share expected, per Refinitiv consensus estimates.Traffic acquisition costs:Paid clicks on Google properties from Q3 2018 to Q3 2019:The company met investors' expectations on traffic acquisition costs. The metric represents the payments Google makes to companies likefor its search engine to be the default browser on their devices.

Google's advertising revenue hit $33.92 billion in Q3, compared to $28.95 billion in Q3 of last year. Google's "other revenue," which includes hardware like its Pixel phones and cloud products, came in at $6.43 billion, surpassing expectations of $6.32 billion, according to Factset. The company earned $6.18 billion last quarter and $4.64 billion in last year's Q3.

CNBC confirmed earlier in the day that Alphabet made an offer to buy smartwatch company Fitbit, which would make Alphabet a player in the wearable fitness tracking space, competing against the likes ofAlphabet said its revenue from "other bets," which includes its subsidiaries outside of Google like the self-driving car company Waymo, came in at $155 billion, which was more than last year's Q3 $146 million in the year-ago quarter.

Capital expenditures increased from $5.28 billion in the year-ago quarter to $6.73 billion as the company expands its headquarters expansions in Silicon Valley and other areas.

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