by the way, love ruth porat. i think she's bringing more transparency when she talks about some of the sloppiness of the quarter modeling out, she's someone that you listen to and don't take this as a smoke screen i think she's bringing a lot of transparency as we get more into the capital market side of what they do, i think you listen to that but again if you look at google sites, around 20% i think is what you want to see if we're looking at the bottom line on google, this is not what we tended to look at in the past the fact this is an op ex heavy number doesn't bother me 26% off the june lows into earnings what do you want i think this is just a breath of -- >> and the operating expenses are investments to get growth so you have to say, all right, this is one quarter where the company invested some money so their business model can continue to grow if you look at it, the thesis isn't broken on this look at their ad search revenues that is still up that thesis hasn't broken. other properties doing well. so if

ruth porat, not as bad as maloney, please don't buy us, ruth porat, they -- i -- i always have troublealling asleep but there is four days a year i don't have to worry. those are the four days that alphabet reports if you try to read their thing, even during a really good monday night football game, it can put you to sleep it is remarkable it is better than klonapin this is the most -- it is like, hey, you know, the cloud, and -- you got youtube. >> costs per click, yeah >> it is just -- i can't read it anymore. i can't. >> the headlines are, they haven't missed on the bottom line in seven quarters and it is the highest quarterly expense ever. >> they have to in order to be able to keep cloud going they talk about getting cloud back into action, they don't mention a lot of big clients i also felt that, david, i'm curious to hear you say this, if you are the justice department and you're thinking about breaking up alphabet, i think you go through this thing and you say, well, gee, i don't know, they seem to be doing okay, not setting the world on fire, this is like a brief for the -- fo

emily: since you mentioned ruth porat, the cfo, there is this perception she was brought into tightenhe belt and that x and some of these experimental projects that google has spent dime on would be the first step on the chopping block. has that been the case? astro: no, that has not been my experience at all. some company wants to buy google brain and verily and waymo these other things we have produced. just imagine what they would have to pay alphabet to buy it and haul it away with them. all of that stuff. it would be a very large amount of money. i know what we spent. i don't know what number you just picked in your mind, but i guarantee what we spent is the tiny fraction of the number you just imagined. if this is worth more than what we spent, then it is a good return on investment. now, it requires long-term thinking, but larry and sergei and ruth exercise long-term thinking very naturally. emily: you are saying there is no change in the long-term thinking, in their level of long-term thinking, and their prioritization of these moonshot projects? astro: larry and sergei are ve

anti-trust enforcers are now reviewing that nearly $3 billion acquisition of looker ruth porat says we'reestions they may have asked her about competition as well we just heard from amazon, their burgeon online ad business growing very strongly. i asked her whether she considers amazon a rival her view that the market as a whole is growing she doesn't think there has to be one winner in that market cnbc did confirm that alphabet did make this offer for fitbit we don't have a price, but we've confirmed an offer was made. >> good stuff, josh. shares of alphabet down about a percent now after hours. >>> coming up next, we'll break down the charts to say why history says this market could be heading even higher aer tfthe s&p's record close today stay with us p help me meet a client's need. is the fund built to sell or built to last? etfs are only part of a portfolio. so make it easy to explain. give me a quality fund that helps me get clients closer to their goals. flexshares etfs are designed and managed around investor objectives. so you can advise with confidence. before investing, conside