Alphabet: Google parent company's shares drop after latest earnings report

Google shares slumped on Monday after the company failed to beat analyst predictions, following a year of internal turmoil, privacy concerns, and several international fines. Stock for Alphabet, Google's parent company, was down 7% in after-hours trading after the company reported first quarter revenue of $36.34bn, lower than the $37.33bn revenue forecast by analysts. The quarter one earnings represent a 17% increase from the same time last year, in which it reported $31.15bn in revenue. In a call with investors on Monday, Google's CEO, Sundar Pichai, said the company would continue to invest more in algorithms on YouTube, following recent incidents that saw the platform offering misinformation, hate speech, and disturbing content targeting children. He also promised to continue to address user privacy concerns.