Google owner Alphabet misses sales forecasts


Google’s parent company, Alphabet, saw its shares drop in after-hours trading after the internet giant missed revenue forecasts.
Alphabet, which also owns YouTube, reported $36.3bn (£28bn) in sales for the first quarter, below expectations of $37.33bn.
Profits also fell during the three months to 31 March.
It was impacted by a fine from the European Commission for blocking rival online search advertisers.
Google had to pay €1.5bn (£1.3bn) after it was accused of abusing its market dominance by restricting third-party competitors from displaying search adverts between 2006 and 2016.
Including the fine, Alphabet’s operating profit dropped to $6.6bn from a previous $7.6bn.
Sales growth slowed to 17% in the first three months of the year, below the expansion rate of the previous three months and down from a 26% increase in the same period last year.


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