Alphabet Shares Fall as Search Advertising Revenue Growth Slows
Alphabet's search advertising revenue grew more slowly in the third quarter, contributing to a drop in its shares. The report says investor patience with big tech's AI spending is wearing thin.
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03:21:57 PM UTC
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Alphabet NASDAQ:GOOG delivered one of its strongest Google Cloud quarters yet, but the result was not enough to offset weaker advertising growth and another quarter of negative free cash flow.Google Cloud revenue more than doubled to $30.71 billion in the third quarter, beating Wall Street expectat…
By Hannah Erin LangInvestors' endless patience for big tech's AI spending spree is wearing thin. Look no further than shares of Alphabet today.One key reason for the stock drop: Google's revenue from search advertising grew more slowly in the third quarter. That's in part because search queries in…