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
€136.12
-3.880%
The stock is an absolute favorite of our community with 98 Buy predictions and no Sell predictions.
As a result the target price of 180 € shows a positive potential of 32.24% compared to the current price of 136.12 € for Alphabet Inc. A.
