It wasn’t a great earnings season for Alphabet (GOOGL) as the company missed on both the top and bottom lines. Shares were down about six percent following the report and investors seem uncertain of where the company is going in the near term. There were actually a few key positives for investors to hang their hats on this quarter, despite the negative reaction. Sales growth was in double digit territory while margins actually improved in the quarter. And, their Google play division saw nice revenues to highlight the ‘other bets’ category. But speaking of the other bets division, this was actually one of the big reasons for the Google earnings miss. Operating losses ballooned here thanks to more spending in the Google Fiber division, and sluggish performance in areas like Nest, among others. This could result in an interesting situation for GOOGL in the months ahead. The near term performance might be pressured by sluggish earnings and more volatility, largely thanks to the Other Bets division. However, if these areas pay off, it could be a boon for Alphabet stock, and especially if their core business remains a strong performer in the interim. Make sure to watch the video for more discussion of Alphabet’s report and near term performance. We also discuss where GOOGL might be headed in the long term, and what investors need to watch in the months ahead for this important stock. And make sure to tune in next week for more earnings insights! Want more insights from Zacks? See our latest free report 5 Stocks to Double. Click here to receive this free report now >>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ALPHABET INC-A (GOOGL): Free Stock Analysis Report To read this article on Zacks.com click here.