FILE PHOTO: A Google search page is seen through a magnifying glass in this photo illustration taken in Berlin on August 11, 2015. REUTERS/Pawel Kopczynski/File Photo
Alphabet Inc shares fell after second-quarter results resurfaced a worrying trend: The company’s costs are rising as it spends more to expand Google’s newer, fastest-growing advertising businesses.
The company reported sales, minus partner payouts, were US$20.92bil (RM89.52bil), in line with analysts’ consensus forecasts, but below some more bullish expectations. Estimates ranged from US$20.55bil (RM87.94bil) to US$21.61bil (RM92.47bil), according to data compiled by Bloomberg. Profit was also hammered by a record antitrust fine from the European Union.
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