(NASDAQ: GOOGL)(NASDAQ: GOOG) stock is losing ground Wednesday. The tech giant's share price was down 3.4% as of 10:30 a.m. ET, according to data from S&P Global Market Intelligence.

Alphabet published second-quarter results after the market closed yesterday. Despite strong sales and earnings beats in the quarter, investors are selling out of the stock in response to the company's forward guidance.

Alphabet posted earnings per share of $1.89 on revenue of $84.74 billion in the second quarter. Meanwhile, the average analyst estimate had called for the business to record per-share earnings of $1.85 on sales of $84.29 billion.

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Source Fool.com