Moonshot Cuts Are Turning Alphabet Back Into Internet Business
- Spending on Other Bets slumps to lowest level since late 2014
- Fiber broadband unit is the source of the biggest cutbacks
Alphabet Beats Forecasts as Google Ads Surge
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After years trying to build ambitious "moonshots" outside its main business, Alphabet Inc. spending cuts are turning the company back into an internet operation.
Alphabet easily beat analysts’ third-quarter profit estimates on Thursday on strong revenue growth but also lower costs at its Other Bets division, which houses the company’s moonshots.