AIPhys.org Technologyabout 1 hour ago
Alphabet Shares Plummet on Profit Miss
3 min read
Alphabet shares fell more than 10% after reporting a 25% profit drop to $26.2 billion. Advertising revenue grew 11% to $82 billion, missing forecasts. Google Cloud revenue jumped 103% to $30.7 billion. The company spent $51.4 billion on capital expenditures, leaving a $9.1 billion cash gap. CEO Sundar Pichai described the spending as long-range planning.
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