(Reuters) – Alphabet Inc surpassed Wall Street expectations for quarterly revenue and earnings on Monday, but it said costs were rising faster than sales and warned that as more traffic and searches shift to mobile devices the expenses would remain high.

The squeeze on expected future profit appeared to weigh on Alphabet’s share price, which fell about 3 percent to $ 967 after the bell. Shares had closed up in regular trading.

Revenue for Alphabet, the owner of Google and YouTube, rose 21 percent to $ 26.01 billion in the second quarter ended on June 30, beating analysts’ average estimate of $ 25.65 billion, according to Th…
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