Google Tumbles Despite Beating As Spending Skyrockets
Alphabet reported their numbers and beat both the top and bottom line.
Then why was the stock getting hammered after hours?
When looking past the top numbers, it is easy to see. While the first glance looked good, further analysis revealed that the cost to acquire such growth is rising too. This is a similar path that Amazon took when it announced last week.
WIth the costs going up, this makes the Street nervous. Investors know it is only a matter of time before it hits margins if allowed to continue.
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