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Alphabet is just Big Tech stock declining after earnings as Google’s advertising business shrinks for the first time



After flooding big earnings on Thursday afternoon, Alphabet Inc. googl
Google
was the only one of the four big companies to report a decline in trading results on Friday morning as investors reacted to the historic downturn for Google. Shares of Alphabet Class A opened at $ 1,497.05, down 2.7% from Thursday’s close, and fell below the first half hour of trading, down 5.5%. In a second-quarter earnings report, Alphabet reported that Google’s advertising revenue fell for the first time in a year, a historic drop during the COVID-19 pandemic that led many advertisers to cut their marketing budgets. However, Alphabet reported monthly revenue of nearly $ 7 billion in revenue, which exceeded $ 31

billion after deducting traffic costs. The decline pushed Alphabet to lose its $ 1 trillion estimate, with the company’s market cap fluctuating around $ 1,005 trillion, with early losses on Friday. Alphabet stocks still gained almost 10% this year, as did the S&P 500 index
increased by 0.5%.


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