Alphabet Surges 10% on Strong Earnings

Alphabet Surges 10% on Strong Earnings

Diana Linn, account manager at Adviser Investments, has the market analysis for Thursday, July 25. The Dow Jones Industrial Average and S&P 500 each fell 0.5% while the NASDAQ Composite inched down 1%. Amazon’s stock slipped 1% in after-hours trading owing to it falling shy of second-quarter profit expectations by more than $600 million. Notably, however, the online retail giant also saw quarterly revenue spike nearly 20% year-over-year propelled by strong sales from its cloud computing business. Alphabet, on the other hand, saw after-hours gains topping 10% after the company beat both sales and profit forecasts. Alphabet’s board also approved the repurchase of an additional $25 billion in Class C capital stock to fund future growth and investments.

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