Alphabet Stands Out in a Trio of Unimpressive Earnings

The June-quarter earnings from Alphabet, Microsoft, Snap, and Spotify do not indicate a strong state of business in the tech industry.
Alphabet had the best quarter among the companies reporting, with revenue growth accelerating to 7% from 3% in the first quarter.
Alphabet's CFO, Ruth Porat, will transition to a new role as president and chief investment officer while retaining the finance role until a successor is found.
Porat's new position involves dealing with policymakers and regulators, which is crucial for Google as it faces antitrust lawsuits.
Keeping Porat around is seen as a relief for investors, considering the criticism of CEO Sundar Pichai's effectiveness.