Alphabet first-quarter revenue misses estimates

REUTERS: Google-parent Alphabet Inc missed Wall Street estimates for first-quarter revenue on Monday, amid increased scrutiny on the company's privacy practices and efforts to restrict advertising on potentially offensive content.

The company reported a net income of US$6.66 billion, or US$9.50 per Class A and B common share and Class C capital share in the three months ended March 31, from US$9.40 billion, or US$13.33 per share, a year earlier.The latest quarter results included a US$1.7 billion fine by the European Commission for having placed anticompetitive advertising restrictions on websites using its search widgets.Excluding the fine, the company earned US$11.90 per share.

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