Slowing digital-ad growth could force Google to make changes

. That dip could shave more than $65 billion from Alphabet’s market value if it holds when the markets open Tuesday.

Still, the results sparked concerns that Google’s enormously profitable advertising machine might be starting to sputter. Some analysts suggested it’s a signal that Google might need to diversify its business more quickly. Google executives highlighted the company’s cloud-computing business as one of its fastest growing segments during the Monday call. But the cloud currently accounts for only a small slice of Alphabet’s overall revenue. The company reported $5.4 billion in “other” revenue, which includes cloud, hardware and Play Store purchases.

Alphabet reported a first-quarter profit of $8.3 billion, down 6% from $8.9 billion in the year-earlier period. Profit amounted to $11.90 per share, well above Wall Street estimates of $10.60.

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