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Alphabet Shares Slide Following Third-Quarter Profit Miss and Ad Slowdown

Google parent company Alphabet saw its shares drop over 10 percent in after-hours trading after reporting a 25 percent decline in net profit and falling short of Wall Street revenue expectations. The disappointing financial results were driven by a slowdown in the advertising business combined with high ongoing spending on artificial intelligence.

Referenced News Coverage (2 sources)

Investors turn on Google owner Alphabet after profit miss, ad slowdown and high spending (The Guardian)
Google misses revenue expectations, Alphabet stock sinks in early after-hours trading (The Independent UK)