Alphabet shares fall as Google's parent company suffers from changes at YouTube

Google owner Alphabet misses sales forecasts

"Another EU fine won't have washed well with investors, but in reality it's not the check on its way to Brussels that's causing the shares to drop", said George Salmon, an equity analyst at Hargreaves Lansdown. Revenue increased 17% from the same period last year, down from the third and fourth quarters of last year during which it reported 22% and 21% growth, respectively.

"Nearly half of ad budgets in the USA are still spent offline, 90 percent of commerce in the U.S.is offline, and we are focused on digital playing a big role in that", Porat said.

As for the first quarter numbers, Google parent company Alphabet delivered mixed first quarter financial results due in part to the recent $1.7 billion antitrust fine by the European Commission that hurt its bottom line.

Including the European fine, net income was $6.7 billion, or $9.50 per share, compared with analysts' average estimate of $7.3 billion, or $10.48 per share.

Excluding the fine, the company earned $11.90 per share. However, the rise was the slowest since 2016 and compared with growth of 26% for the same quarter a year earlier.

Helping drive Alphabet's results was a 39% year-over-year increase in paid clicks on Google properties during Q1.

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He added: "We expect that much will be made of company commentary that YouTube clicks decelerated in the quarter and that improving YouTube's environment is a top priority as evidence that YouTube was to blame for the slowdown". The company also has interests in cloud computing, smartphones and self-driving cars.

Traffic acquisition costs (TAC) - what Google pays its partners - amounted to $6.86bn, up from $6.29bn in Q1 2018.

Porat also said that slower revenue growth reflected foreign exchange effects and a strong 2018.

Interestingly, Google's "Other Bets" unit, which includes self-driving auto business Waymo, incurred losses of $858 million, widening over 50 percent from $571 million a year ago.

Back then, Alphabet saw $150m in revenues from the Other Bets division, but an operating loss of $571m. That's down from 85.5% a year ago.

"I think we are building a strong business across all our verticals, and we're definitely are seeing a strong momentum and look forward to being able to share more at the appropriate time", Pichai said. Facebook is at about 20 per cent. Margrethe Vestager, the competition commissioner, said that Google had restricted publishers from displaying rival search... However, the overall segment's rate of growth pales considerably next to AWS' and Microsoft's cloud growth.

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