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Sergey Brin

Alphabet spells big gains for investors, despite 1Q letdown

Larry Page's five-year tenure as CEO of Google — and now its new corporate parent Alphabet — is reminding investors that patience pays off, despite a letdown in the first quarter.

After lagging its peers in the early stages of Page's reign, the Internet's most powerful company has since delivered returns that trounced both the Standard & Poor's 500 and Apple shares.

Since Page took the helm in 2011, Alphabet's stock has soared 163 percent, creating an additional $300 billion in shareholder wealth. The S&P 500 rose 58 percent during the same period; Apple's stock is up 115 percent.

Some of Alphabet's gains evaporated late Thursday after the...