Google-Parent Alphabet Plunges 7% In Wednesday Pre-Market: What's Going On?

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Google-Parent Alphabet Plunges 7% In Wednesday Pre-Market: What's Going On? - Benzinga

Quick Summary:

Alphabet, Google’s parent company, announced a 12% year-over-year rise in consolidated revenue, reaching $96.5 billion, fueled by strong business growth.

What Happened: Despite reporting revenue growth, Alphabet’s cloud revenue fell short of market expectations, while AI spending saw a significant increase.

Revenue from Google Services climbed 10% to $84.1 billion, led by sustained strength in Google Search, YouTube ads, and other advertising segments.