Google just got pounded by the strong dollar

Google just got pounded by the strong dollar

22 April 2016, 06:52
Francis Dogbe
0
17
In a vacuum, Google's parent company Alphabet had a tremendous quarter, posting double-digit sales and profit growth. So why is the stock down 6% in after-hours trading? Alphabet (GOOGL, Tech30) got absolutely shellacked by the strong dollar, causing the company to badly miss Wall Street's forecasts. The company said sales would have grown by an astounding six more percentage points had the dollar not been historically strong compared to foreign currencies. The strong dollar isn't the only reason Google missed the mark set by Wall Street analysts last quarter. The company also posted big losses from the experimental and ... READ MORE
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