Alphabet shares tumble over 10% after profit miss and ad slowdown

Shares in Google parent Alphabet fell more than 10% in after-hours trading after quarterly profit missed expectations and advertising growth slowed. Net profit dropped 25% year-on-year to $26.2 billion, or $2.12 a share, partly due to an $8.7 billion loss on equity investments linked to its SpaceX stake. Revenue rose 25% to $127.6 billion, slightly below forecasts, as AI spending stays high.