Alphabet Drops on Declining Ad Prices, Rising Costs
Todd Peters, senior vice president at Adviser Investments, has the market analysis for Monday, February 4. The Dow Jones Industrial Average and S&P 500 each gained 0.7% and the NASDAQ rose 1.2%. Meanwhile, Google parent Alphabet reported that quarterly revenue surged more than 21% to reach nearly $440 billion. Despite that sales growth, Alphabet’s stock fell 3% in after-hours trading as a result of rising capital expenditures and traffic acquisition costs.