By John Glenday

Google and Microsoft have hit investors for a double whammy after they simultaneously posted worse than expected quarterly earnings for the January-March period, sparking a sell-off in both.

Google’s parent firm Alphabet fared worst after shedding a whopping six per cent at the close of play on Wall Street, equating to a slump in market value of $32bn – despite a rise in revenues to $20.2bn.

This increase represented a 17 per cent boost on the same period last year when profits came in at $4.2bn but this wasn’t enough to assuage the markets, which had been expecting far stronger results.

Despite the Read full story ›

Source: The Drum