Alphabet names John Hennessy as board chairman, replacing Eric Schmidt; traffic acquisition costs reach 24% of revenue, up 1% YoY; stock down 3%+ after hours (Matthew Lynley/TechCrunch)

Matthew Lynley / TechCrunch:
Alphabet names John Hennessy as board chairman, replacing Eric Schmidt; traffic acquisition costs reach 24% of revenue, up 1% YoY; stock down 3%+ after hours  —  Google parent company Alphabet's big run over the past few months came to a screeching halt today after it came …

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