Why Alphabet Stock Crashed Today
Investors shrug off superb Alphabet profits after hearing about its planned cash outlays.
Overview
Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) stock tumbled 7.4% through 11:20 a.m. ET Thursday despite absolutely steamrolling analyst forecasts for Q2 earnings. Expected to earn just $2.88 per share on $116.5 billion in sales, Alphabet reported profits of $9.11, and sales of $119.8 billion -- both well ahead of expectations.
So why is Alphabet stock crashing in response?
Image source: Google.
Details
Source
Originally published at www.fool.com.
Related Articles
- JPMorgan report finds dramatic jump in AI-themed ETFs — despite rough quarter
- Stocks making the biggest moves midday: Alphabet, Tesla, Amazon, Southwest Airlines & more
- The rising cost of capital for companies today is starting to spook the stock market: ‘The worry is the spending might not pay off’
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.