Alphabet reports a strong third quarter despite free-falling advertising values

Google’s cost-per-click, a key metric determining the value of an ad, fell another 11 percent year-over-year this quarter. But aggregate paid clicks increased 33 percent in the third quarter year-over-year, showing it’s still able to compensate for that decrease.
https://techcrunch.com/2016/10/27/wall-street-seems-totally-fine-with-alphabets-ad-strategy-after-it-reports-a-strong-third-quarter/