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Alphabet shares declined over 4% in after-hours trading due to disappointing ad revenue, falling short of analysts’ estimates. While the company reported its fastest quarter for revenue growth since early 2022, with sales increasing by 13% from the previous year, ad revenue of $65.52 billion was below analyst expectations of $65.94 billion. The news suggests that Alphabet, the parent company of Google, may need to make more job cuts in 2024.

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