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Wall Street punishes Alphabet and Microsoft despite earnings beats after stocks hit record

Wall Street punishes Alphabet and Microsoft despite earnings beats after stocks hit record

Google CEO Sundar Pichai speaks at a panel at the CEO Summit of the Americas hosted by the U.S. Chamber of Commerce on June 09, 2022 in Los Angeles, California.

Anna Moneymaker | Getty Images

Results were good, but not good enough.

That’s Wall Street’s reaction to quarterly results on Tuesday from Alphabet and Microsoft. Both companies reported revenue and earnings that exceeded estimates, yet the stocks sold off in extended trading.

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