Google’s parent company Alphabet on Thursday posted lower profit and a small revenue increase for last year’s fourth quarter, as a decline in online ad spending and competition from rivals weigh on the search giant.
While overall revenue grew, advertising revenue fell by nearly 4% and revenue at YouTube declined 8% year-over-year. That appeared to spook investors, who sent the company’s stock lower in after-hours trading. The Mountain View, California-based company said it earned $13.62 billion, or $1.05 per share, in the October-December quarter. That’s down 34% from $20.64 billion, or $1.53 per share, in the same period a year earlier.Analysts expected Alphabet to post earnings of $1.18 per share on revenue of $76.2 billion for period, according to FactSet Research.
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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
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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.
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