Tech stocks suffer two-day selloff as investors find ‘wrinkle or two' in Alphabet, Meta earnings

Alphabet and Meta both reported better-than-expected results, but investors found concerning stories in each.At Meta,"management’s conservative tone tempered enthusiasm for a strong result and guide," wrote analysts from Guggenheim, in a report late Wednesday.

Ruth Porat, Alphabet's finance chief, told analysts that the numbers reflect"the impact of customer optimization efforts," a phrase that generally refers to clients reeling in their spending.sparked Alphabet shares are down by about 11% over the past two days, while Meta has dropped almost 7%. Amazon's stock has dropped more than 6% over that stretch, heading into its report after the close.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Strong showing by Alphabet, Meta signal ad market rebound underwayA rebound in the advertising businesses of Google, Meta (META.O) and Snap (SNAP.N) signaled that the growing adoption of artificial intelligence was drawing marketers to digital platforms even in an uncertain economy.
Source: Reuters - 🏆 2. / 97 Read more »