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Yuvi.
$GOOGL，营收增长25%为何没能消除担忧？Alphabet第三季度营收约1276亿美元，但低于市场预期；净利润从去年同期约350亿美元降至约262亿美元，每股收益2.12美元还受股权投资损失影响。收入扩张和利润回落并存，市场会追问资本开支回报。若广告与云增长提升现金流、投资损失可剔除，基本面仍强；若支出上行而利润率续降，我会下调估值。
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