Alphabet (GOOGL) Shareholders Left Wanting After First-Quarter Earnings

It wasn't a 'bad' first-quarter report, per se. Internet juggernaut Alphabet (GOOG, GOOGL), parent company of Google, managed to beat both earnings and revenue estimates, and logged yet another quarter of sales and profit growth that most other companies would envy.

But there's something increasingly missing from Alphabet's quarterly numbers: inspiration.

Alphabet still is a steamroller that no other web company wants to stand in front of. However, in an environment where the internet is changing in rapid-fire fashion, Alphabet doesn't give the impression that it's adapting as quickly as the market itself is. The Alphabet of today looks a little too much like the Alphabet (well, Google) of 10 years ago where it counts the most - on the internet advertising front.

If the regulatory changes presumed to be en route get here anytime in the foreseeable

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