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Why Alphabet Stock Slumped on Wednesday

TheMotleyFool

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Shares of Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) turned sharply lower on Wednesday, falling as much as 5%. As of 1:10 p.m., the stock was still down 2.1%.

The catalyst that sent the tech giant lower was its first-quarter earnings report, which held a few unhappy surprises for investors.

Alphabet generated revenue of $68 billion, up 23% year over year (up 26% in constant currency). Its operating margin of 30% was consistent with the prior-year period. The search leader delivered net income of $16.44 billion, which resulted in earnings per share (EPS) of $24.62, up just 7%.

Source Fool.com

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