BusinessPhoto: NDTV BusinessAlphabet Shares Fall 13.7%, Biggest Drop Ever on Earnings Miss
Alphabet's shares fell 13.7%, marking their largest ever decline, after the company reported disappointing quarterly earnings. Net profit dropped 25% year-on-year to $26.17 billion for July-September, missing revenue estimates despite a 25% revenue rise to $127.58 billion. Adjusted earnings per share were $2.67, below expectations. Investor concerns grew over Alphabet's heavy AI spending and its impact on cash flow.
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