(Reuters) — Google parent Alphabet missed analysts’ estimates for quarterly profit on Monday as it reported its highest-ever quarterly expenses, sending shares down about 1.2% even though revenue growth topped expectations.

The world’s dominant provider of internet search, advertising and video services has increased spending in recent years on areas including cloud computing and consumer electronics that it views as essential to maintaining its industry leadership in the face of stiff competition from and .

Google, however, provides limited product-level financial disclosures compared with some peers, leaving investors increasingly uncertain about how pressures including regulatory scrutiny, advertiser boycotts, and global trade tensions are affecting operations.

As a result, analysts say Alphabet shares have underperformed relative to rivals, rising 17% in the last 12 months entering

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