Alphabet tanks nearly 13% for worst day ever, losing $500 billion in value
Summary
Alphabet shares dropped ten percent during premarket trading following an earnings report. The decline puts the company on track for its largest post-earnings loss on record. The downward movement comes after the company posted a worse negative free cash flow than anticipated while keeping its annual spending outlook unchanged.
Alphabet reported a larger negative free cash flow than analysts had expected while maintaining its spending gudiance for the year.
Source: Read the full story at US Top News and Analysis
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