Shares in Google owner Alphabet sink on profit miss, ad slowdown

Revenue from Google's search business, still the company's largest source of income, rose 12 percent to $63.4 billion, slowing from 17 percent growth in the previous quarter (Paul Faith) Shares in Google parent Alphabet fell more than seven percent in after-hours trading Wednesday as the company reported lower-than-expected profit and a slowdown in its advertising business. Net profit slid 25 percent from a year earlier to $26.2 billion in the July to September period, or $2.12 per share, well short of expectations by analysts surveyed by FactSet. Alphabet booked an $8.7 billion loss on its equity investments, which includes a large stake in SpaceX. Revenue rose 25 percent to $127.