Why Alphabet Stock Crashed Wednesday Morning
Shares of (NASDAQ: GOOGL) (NASDAQ: GOOG) turned sharply lower on Wednesday, falling as much as 9.7%. As of 11:44 a.m. ET, the stock was still down 8.9%.
The catalyst that sent the tech giant lower was its third-quarter earnings report, as strong ad revenue was offset by weakness in its cloud computing business.
Alphabet generated revenue of $76.7 billion, up 11% year over year, as its online advertising business continued the gradual recovery from its downturn-induced slump. The bottom line also got a boost as diluted earnings per share (EPS) of $1.55 jumped 46%.
Source Fool.com
Alphabet Inc. A Stock
€308.80
6.790%
With 165 Buy predictions and 2 Sell predictions Alphabet Inc. A is one of the favorites of our community.
With a target price of 334 € there is a slightly positive potential of 8.16% for Alphabet Inc. A compared to the current price of 308.8 €.
