Someone wrote an article about why Alphabet's stock price is changing a lot lately. They say that the stock is not changing much today, but it has gone down a lot this month. This is because the company, which owns Google, had to tell people how well they did in the last three months. They made more money than people thought they would, which usually makes the stock price go up. But sometimes, other things happen that make people worry about the company's future, so the stock price goes down. Read from source...
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Article's Main Points:
- Alphabet shares are flat on Tuesday and down 7% for July.
- The stock has been volatile since last week's Q2 results.
- Alphabet reported second-quarter revenue of $84.742 billion, exceeding the consensus estimate of $84.202 billion.
- The company also reported earnings of $1.89 per share, beating analyst estimates of $1.85 per share.
- This marks the sixth consecutive quarter that Alphabet has surpassed analyst expectations on both revenue and earnings.
- Year-over-year, total revenue increased by 14%, driven by strong performance in Google Search and momentum in Cloud services.
- Google shares are also volatile in recent sessions, possibly in sympathy with semiconductor and hardware stocks as the sector pulls back following this year’s strength.