Alphabet drops 5% after earnings disappoint

Friday, 31. July 2020 15:48

Shares of Google's parent Alphabet Inc. tumbled over 5% on Friday after the company posted worse-than-expected second-quarter results the previous day.

The tech giant said its net income plunged 30% to $6.96 billion, while total costs jumped by 7% to $31.91 billion amid the coronavirus crisis.

Alphabet shares slid 5.48% at 9:38 am ET.

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Breaking the News / NP