Alphabet’s capital expenditures rose to $44.9 billion, beating forecasts
Alphabet’s second quarter capital expenditures came in at $44.9 billion, slightly above Wall Street forecasts of $44.7 billion.
The company raised its full-year capex guidance to $195 billion to $205 billion from $180 billion to $190 billion.
Alphabet stock fell 7.13% after the earnings report, erasing about $293 billion in market value.
Intel also reported strong revenue growth, with a 30% rise in sales in the foundry segment.