Quartz: Google’s advertising business is showing holes

Quartz: Google’s advertising business is showing holes. “Alphabet brought in a lot of cash last quarter thanks to Google’s swelling ad sales. But the business is starting to show holes. The company missed Wall Street’s expectations for earnings, which, after backing out a one-time tax charge, came in at $9.70 per share, short of the $9.98 forecast by analysts polled by FactSet. It posted a loss of $3.02 billion for the quarter due to the $9.9 billion charge tied to changes to the US tax system. Alphabet’s Class A shares fell as much as 5% to $1,125.79 in after-hours trading, but rebounded to around $1,150 by the time of publication.”

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