Google empire built on search looks to other bets

A Google empire built on search shifted attention on Thursday to high-speed Internet networks, 360-degree video broadcasting and "other bets" as parent company Alphabet logged disappointing earnings. Alphabet said net income hit 4.2 billion in the first three months of this year, but shares sank more than five percent to 714 in after-market trades that followed release of the report. The earnings per share fell 46 cents short of analysts' expectations. Revenue in the quarter rose to nearly 20.3 billion compared to 17.26 billion in the same period a year earlier. The results "represent a tremendous start to the year," said Alphabet chief financial officer Ruth Porat.