Google earnings crushed forecasts — but a $10 billion capex increase is spooking Wall Street
Google's parent company Alphabet beat analyst estimates for its second-quarter earnings on Wednesday, but its stock faltered after Alphabet reported it would increase its capital expenditures by $10 billion this year. Investors have been closely monitoring Alphabet for signs of weakness as more and more people turn to ChatGPT instead of Google to find answers on the internet.The tech giant saw strong growth in its core search business, which was up over 11% year-over-year, fueled in part by the strong perf ...