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LEAD 1-Alphabet turnover disappoints, stock drops

(Updated with details)

April 29 (Reuters) – The alphabet did not know, unlike many of its competitors, to harness the strength of the US economy: the Internet giant reported on Monday a turnover on the first day. quarter lower than analysts' expectations.

Google's parent company reported a first-quarter turnover of 17% year-on-year, its lowest three-year growth to $ 36.3 billion ($ 32.5 billion), versus a US consensus $ 37.3 billion, according to Refinitiv's IBES data.

Google's competitors for Facebook, Snap, Amazon and Twitter advertising revenue last week reported a quarterly revenue higher than or equal to expectations.

The stock of the alphabet retreated almost 4% Monday in transactions after the closing of Wall Street. The bond closed the regular session with a 1.5% hike at a record price of $ 1,296.20.

Alphabet costs over the quarter increased at the same pace as sales (+ 16.5% year-on-year to $ 29.7 billion).

The group's two-year spending increase has been a source of concern to investors, who monitor Alphabet's efforts to protect its users' data and combat potentially offensive advertising.

The Alphabet announced earlier in February a turnover and profit higher than expectations in Q4 2019, but much larger expenses, as well as commercial expenses such as creating new data centers or hiring cloud experts, put the chip in the investors.

The market expected, however, that the company's results for the first three months of 2019 would benefit from a favorable macroeconomic environment. The stock took about 12% between the previous quarterly results and Monday's session.

Google's three billion users make the search engine the largest seller of Internet advertising, a source that contributes nearly a third of its total revenue, compared to around 20% of Facebook, according to data. the EMarketer consultant. (Arjun Panchadar in Bangalore and Paresh Dave in San Francisco, Patrick Vignal for the French service)

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