Google parent Alphabet's small sales miss eases recession worries

Alphabet reported second-quarter revenue of $69.69bn, nearly in line with the average expectation of $69.88bn.

Google is expected to maintain market share of 29% within the $602bn global online ad industry.

Google-parent Alphabet today narrowly missed estimates for quarterly revenue, showing that its industry-leading Google search and advertising business may be able to withstand big countries potentially going into recession over the next year.

Shares of Alphabet rose 3.5% in after-hours trading.