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.
Daniel Wiener Chairman Jim Lowell Chief Investment Officer Jeffrey DeMaso Director of Research Kate Austin Equity Research Analyst Charlie Toole Vice President, Portfolio Manager Diana Linn Account Manager October 31, 2019