Alphabet, the parent of Google, had solid results in its second quarter, with revenues of US$85 billion, driven by Search, as well as Cloud, which the company said exceeded US$10 billion in quarterly revenues for the first time. Despite surpassing expected earnings, Reuters reported today that Alphabet stock shed 5.08% by late afternoon, despite “a second-quarter earnings beat, as investors focused on an advertising growth slowdown and the company flagged high capital expenses for the year.” Those capital expenses, said company CEO Sundar Pichai during a quarterly earnings call on Tuesday, are…