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Wednesday, July 27, 2022 1:29:52 PM
By: TheStreet | July 27, 2022
• The internet giant has announced quarterly results containing soothing signals for investors who are very worried about the economy.
Alphabet (GOOGL) financial results were eagerly awaited by investors wishing to take the true pulse of the economy.
Are we already in a recession and if so what is the extent of the damage to businesses? These are the questions that investors hoped the parent company of Google would answer.
The response given by the Mountain View, Calif. based firm is not completely clear, but there are some reassuring elements, or at least, ones that do not completely plunge investors into a deep slump.
"The economy outlook [is] uncertain," CEO Sundar Pichai told analysts during the earnings call following the release of the results.
Net income fell 13.6% to $16 billion in the second quarter ended June 30, compared to the second quarter of 2021, the company announced in a press release on July 26...
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