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Alphabet shares seesaw after earnings beat

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Alphabet's earnings report initially caused shares to rise 3 percent, though the company's stock switched before, during and after the report.

Google's parent company reported $9.93 per share in earnings, beating the $9.28 per share expected by analysts.

Revenue was $31.15 billion, ahead of $30.3 billion forecasted. Operating income of $7 billion also beat expectations of $6.6 billion.

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