What's Going On With Alphabet Stock Wednesday?
Portfolio Pulse from Adam Eckert
Alphabet Inc (NASDAQ:GOOG) shares are trading lower following its second-quarter earnings results. Despite beating revenue and earnings estimates, multiple analysts adjusted their price targets. Alphabet reported $84.742 billion in revenue and $1.89 EPS, driven by strong performance in Search and Cloud. Analysts have mixed reactions, with some raising and others lowering their price targets.
July 24, 2024 | 1:23 pm
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Alphabet's Q2 earnings beat estimates with $84.742 billion in revenue and $1.89 EPS. Despite this, shares are down 4.28% as analysts have mixed reactions, adjusting price targets both up and down.
Despite strong earnings, the stock is down due to mixed analyst reactions and concerns over AI-related capital expenditures. This indicates short-term negative sentiment.
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