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Alphabet shares fall 7% despite 25% revenue growth in Q3.

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So what disappointed investors?

* Google advertising revenue grew 10.6% to $82.01B.
* YouTube ad revenue grew 9.2% to $11.21B, but growth slowed.
* Advertising performance fell short of expectations.
* Net income declined 24%, mainly due to investment losses.
* Capital expenditure surged 114% to $51.36B.

Even Google Cloud’s 103% revenue growth wasn’t enough to reassure investors.

Strong revenue growth, but concerns over slowing advertising momentum and rising costs.

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