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Good news for investors: Google still thumbs nose at Wall St.

Technology investors who bought shares of Alphabet last year on optimism that new CFO Ruth Porat would increase fiscal discipline were disappointed Friday.

RBC Capital Markets Internet Stocks Analyst Mark Mahaney discusses Alphabet's earnings.
He speaks on "Bloomberg GO." Mahaney owns no stock on Alphabet Goog. Bloomberg

They pushed the Google parent's GOOGL shares down 5% to $737.77 on heavy trading volume, a day after learning that the company's investments in what it calls Other bets remain a drag on short-term profits.

The category posted a first-quarter operating loss of $802 million, while generating sales of just $166 million, just a tiny fraction of overall revenue of $20 billion.



Author: USA Today

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