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Google parent Alphabet misses Q1 targets for profit, revenue

Results - marred by rising costs, strong US$ - drive shares down 6%

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DIMINISHING MARGINS: Losses have increased at the company's Other Bets business, which includes self-driving cars, its broadband business Google Fiber, home automation products Nest, and X.

San Francisco

GOOGLE'S parent Alphabet Inc missed Wall Street targets for first-quarter profit and revenue on Thursday as it spent more money to build traffic for its mobile advertising services.

The results, which were also hit by the strong US dollar, drove shares of the Web