Alphabet's profit fell from a year ago

Advertisers had barred spending and braced for a possible slowdown.

Alphabet Inc., which owns a range of smaller technology companies besides Google

Ad sales weakened more dramatically than Alphabet's total revenue.

The company earned $13.9 billion, $1.06 per share, down 27% from the same period last year.

Alphabet shares fell nearly 7% in extended trading after the numbers came out.

This resulted in a loss of approximately $600 billion in assets to shareholders.

Google is outperforming other Internet companies

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