Alphabet Shares Fall After Earnings Miss on Mobile Costs
- Traffic Acquisition Costs rise as more searches go mobile
- Internet giant's `Other Bets' unit more than doubles revenue
Google’s Key Ad Metric Stumbles
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Even Google isn’t immune to technological change. That was the lesson from the search giant’s quarterly results, sparking the biggest decline in the shares for eight months.
Ruth Porat, chief financial officer of Google parent Alphabet Inc., said late Thursday that profit margins could be pressured by higher mobile phone use and growth in automated ads.