Alphabet’s GOOGL Shares Post Record 12.65% Percentage Decline

Alphabet’s Class A shares (GOOGL) dropped $41.11, or 12.65%, Thursday, closing at $283.78 at 4 p.m. ET (20:00 UTC) for their largest close-to-close percentage loss on record after the Google parent released quarterly results Wednesday. Revenue for the quarter ended Sept. 30 rose 25% year over year to $127.58 billion. The Search & other segment generated $63.35 billion, up 12%, while Cloud revenue reached $30.7 billion, a 103% increase. Property and equipment purchases totaled $51.355 billion, while free cash flow came to negative $9.065 billion.

Source: TokenPost