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by Mish

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Google Beats

Both companies reported tonight.

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CNBC reports Google parent Alphabet sees earnings, revenue beat and announces $7 billion buyback.

Amazon Missed

Amazon is down 5% (down $42 from $818 to $775) in after hours trading on a substantial earnings miss: Amazon Reports 52 Cents per Share, vs. Expected EPS of 78 Cents.

Yahoo Finance reported trailing 12-months Amazon’s P/E at 654. That is before today’s report. Lovely.

Mike “Mish” Shedlock