FinanceGuardian Technologyabout 10 hours ago
Alphabet Shares Fall 10% After Profit Miss
3 min read
Shares in Google parent Alphabet fell more than 10% in after-hours trading Wednesday, erasing tens of billions of dollars in stock market value. Net profit slid 25% to $26.2bn, while advertising revenue grew 11% to $82bn. The company spent $51.4bn on capital expenditures, leaving a $9.1bn cash gap. CEO Sundar Pichai defended the strategy as long-range planning.
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