Alphabet, Inc. (NASDAQ: GOOGL) (NASDAQ: GOOG) shares came under pressure late on Tuesday after the search giant's mixed quarterly results. KeyBanc Capital Markets analyst Justin Patterson delved into the standouts and sore points from the earnings report.
The Good: Alphabet's board authorized a new $70 billion share repurchase plan, up 40% from the previous authorization, Patterson said. He expects buybacks to help minimize earnings per share growth headwinds in a volatile macroeconomic environment.
