Investors turn on Google owner Alphabet after profit miss, ad slowdown and high spending
Net profit slid 25% from a year earlier to $26.2bn, well short of expectations, though revenue rose to $127.6bnShares in Google parent Alphabet fell more than 10% in after-hours trading Wednesday, erasing tens of billions of dollars in stock market value from the $4tn tech giant. The company had reported lower-than-expected profit and a slowdown in its advertising business while…
Net profit slid 25% from a year earlier to $26.2bn, well short of expectations, though revenue rose to $127.6bnShares in Google parent Alphabet fell more than 10% in after-hours trading Wednesday, erasing tens of billions of dollars in stock market value from the $4tn tech giant. The company had reported lower-than-expected profit and a slowdown in its advertising business while…
