Alphabet declines despite good results

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Source: Dukascopy Bank SA


The stock price of Google parent company Alphabet started the day's trading at $173.81, which is a decline of $8.00 or 4.40%, compared to Tuesday's closing price. This decline is attributed to increasing costs.

In general, Alphabet has beaten second quarter expectations for revenues and earnings per share. Revenues were estimated to be $84.22 billion instead of the actual $84.742 billion, which is a minor beat of 0.62%. Meanwhile, earnings per share are $1.89. Markets expected EPS to be at $1.847.

However, the company has reported that it has experienced an increase of capital expenses. Moreover, it confirmed that expense are set to remain high until the end of 2024. Due to this reason, profit growth is slowing down.
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