Alphabet's profit fell from a year ago

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Advertisers had barred spending and braced for a possible slowdown.

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

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

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

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

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

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Google is outperforming other Internet companies

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