: Alphabet and its stock thrived during the pandemic. Now, an ad slowdown and its big investment in headcount are challenging its earnings growth just as it's entering a new phase of competition with Microsoft and others in AI.
"We have significant work underway to improve all aspects of our cost structure, in support of our investments in our highest growth priorities to deliver long-term, profitable growth," CFO Ruth Porat wrote in a letter to investors.YouTube advertising was down more than 7% last quarter compared to the same quarter the previous year, causing Alphabet's overall revenue growth for the quarter to drop to just 1% year over year.
It also expects to take a roughly $500 million loss related to reduced office space plans this quarter.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Alphabet earnings: What to expect from the Google parent companyAlphabet Inc. investors are probably breathing a little easier ahead of the company's Thursday afternoon earnings report, all thanks to Facebook What about amazon
Source: MarketWatch - 🏆 3. / 97 Read more »
Alphabet Misses Q4 Earnings Estimates, YouTube Ad Revenue Drops by Nearly 8%Alphabet, parent company of Google and YouTube, turned in fourth-quarter 2022 earnings that missed analyst estimates, as YouTube’s ad revenue again notched a year-over-year decline. Overall, … I've all but stopped watching YouTube because the amount of advertising has become excessive. Plus most ads are so loud and obnoxious it's no longer enjoyable to watch the videos. I listen to podcasts instead now. I had to use the Adblock so that no ads appear since I don't like the price of YouTube Premium and the ads on YT are unbearable and loud to listen to. It is recommended to use the Adblock.
Source: Variety - 🏆 108. / 63 Read more »
Google’s parent company Alphabet posts lower Q4 profit amid ad squeeze, competitionGoogle parent company Alphabet has posted lower profit and a small revenue increase for last year’s fourth quarter. A decline in online ad spending and competition from rivals are weighing on…
Source: mercnews - 🏆 88. / 68 Read more »