The stock of Google's parent company Alphabet is plummeting by 8.4 percent after the opening of the New York Stock Exchange. This is because the American IT giant reported revenue for the previous quarter that did not meet expectations.
The report was released after the stock exchange closed at 10:00 PM Swedish time on Tuesday evening.
It was primarily the revenue from the company's cloud services that did not meet expectations. This despite being 30 percent higher in the last quarter of 2024 compared to the same period the year before.
Alphabet's stock began its downward journey already in after-hours trading on Wall Street late on Tuesday evening.
