Alphabet Q2 earnings beat every estimate — so why did stock drop?
Alphabet delivered a quarter that looked exceptional on almost every line — until investors saw the bill. The company’s Alphabet Q2 earnings report, released after the bell on Wednesday, showed earnings per share of $9.11 on revenue of $119.8 billion, comfortably ahead of Wall Street’s expectations. But the celebration was short-lived. By Thursday morning, shares had dropped 2.8% in premarket trading after the company disclosed a sharp increase in planned capital spending.