30.04.2020 ALPHABET A Daily Analysis

30.04.2020 ALPHABET A Daily Analysis

Alphabet, the parent of Google, saw shares surge nearly 9% during the Wednesday session after the tech giant reported earnings of $9.87 per share and revenue of $41.16 billion. The company posted a top-line beat but missed profit expectations.  Google on Wednesday said any user will soon be able to host free video conferences on Meet, turning its previously business-only tool into a bigger rival to Zoom and others battling for users during the coronavirus outbreak.   That fear led the Alphabet's shares downward during the first quarter. Fortunately, while the Alphabet's advertising business was affected, it wasn't by nearly as much as some had feared. Meanwhile, Alphabet's non-advertising businesses were downright resilient in the face of COVID-19. Showing confidence in its business, management followed through on buying back a relatively large amount of stock, at least by Alphabet's standards, as the share price fell.