REUTERS: Alphabet Inc's Google failed to reap the benefits of a strong economy that bolstered rivals in the first quarter as the leading internet ad company faced increased competition in its search and hardware businesses and suffered from disruptive changes at YouTube.
Alphabet said its quarterly revenue rose 17 percent from a year ago to US$36.3 billion, compared with Wall Street’s average estimate of US$37.3 billion, according to IBES data from Refinitiv. About 84.5 percent of revenue, compared with 85.5 percent a year ago, came from Google’s ad business, which sells links, banners and commercials across its own websites and apps and those of partners.
Alphabet has said its spending increases are justified, with huge outlays going to offices, data centers and artificial intelligence capabilities in line with the expected demand for its services. And Google's costs could jump further if governments globally follow through on growing threats to rein in the ability of apps to track users for advertising purposes. Other regulators have discussed forcing companies to step up monitoring of user content.
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