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Alphabet (GOOGL) Stock May Gain on YouTube Paid Ad-Free Subscriptions

NEW YORK (TheStreet) -- Alphabet (GOOGL - Get Report) stock is declining 1.11% to $672.48 in afternoon trading on Wednesday, despite the announcement that YouTube will begin to offer a $9.99 monthly subscription on October 28.

YouTube, which falls under Alphabet subsidiary Google, will offer YouTube Red with no ads, as well as the option to watch videos offline and play videos while using other applications on a mobile device.

YouTube Red subscribers will also have access to new, original series and movies. The video provider also introduced the YouTube Music app, but did not give a launch date.

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Additionally, Alphabet will release its earnings results for the third quarter of 2015 on Thursday after the market close.

The company will report the financial results as Google would have before the company reorganized into...