Alphabet said third-quarter sales, excluding payments to distribution partners, were $57.27 billion. That compared with the average analyst projection for $58.18 billion. As spiraling inflation crimps growth in digital advertising, Google and competitors such as Meta Platforms Inc.'s Facebook and Snap Inc.'s Snapchat are fighting for smaller budgets. Last week, Snap reported its slowest quarterly sales growth ever, which sent its stock plunging and dragged down Alphabet's shares too. Google's search business, which is more insulated from economic swings than social media ads, has begun to show signs of weakness.