Alphabet Shares Drop on Negative Cash Flow
Alphabet shares fell after reporting negative cash flow and rising capital expenditures. Meanwhile, Microsoft gained following strong free cash flow results.
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ALPHABET INC-CL A shares shed 10% after hours, wiping out $396 billion in market value following a net income miss and negative cash flow. The drop dragged Nasdaq futures down more than 1% as global tech investors re-evaluated high capital expenditure spending. Markets are now bracing for additional earnings reports from major technology firms later in the session.
