Wednesday's antitrust hearing
Google doesn't provide forecasts, but Google Chief Financial Officer Ruth Porat previously said the June quarter would be "difficult" for advertising.Analysts are expecting Google to report second-quarter revenue of $37 billion, which would represent a 4% year-on-year revenue drop. Those weak spots include areas such as travel and hospitality, medium-size businesses, and restaurants, which contribute significantly to Google's ad business and have seen a big pullback in the pandemic.
And as parts of the world begin to open back up, advertising spending on areas like travel may show an uptick. All expectations are that the second quarter will mark the lowest point for Google this year. "I think everyone is going to be watching how well the Google Cloud business is doing," Srinivasan said. "Given they're smaller than Amazon and Microsoft, we expect the growth rate should be the best among the three right now."
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