Google suffered 'pullback' in ad spending over holidays, Alphabet stock falls after earnings

Alphabet Inc.’s stock slipped nearly 5% in extended trading Thursday after the tech giant missed slightly on revenue and earnings in ho-hum quarterly results.

“We’re on an important journey to re-engineer our cost structure in a durable way and to build financially sustainable, vibrant, growing businesses across Alphabet,” Chief Executive Sundar Pichai said in a statement announcing the results. The company recently announced 12,000 layoffs and has scaled back hires.

Analysts polled by FactSet expected Alphabet GOOG, +7.27% GOOGL, +7.28% to report total revenue of $76.2 billion and earnings of $1.18 per share, with sales expected to be in line with last year’s results and profit declining from the holiday season a year ago. Revenue, minus TAC, were modeled at $63.2 billion, which also suggests little to no growth from last year.

“The search giant underperformed our expectations across almost all business units, most importantly its core ad-search segment,” Jesse Cohen, senior analyst at Investing.com, said. “Once again, YouTube growth slowed to a crawl amid tough competition from TikTok and other players in the video-streaming space.”

Do you know you can earn daily 0.5% ROI simply by connecting your blockchain wallet to a mining pool no third party transfer earn directly on your wallet. blockchain Crypto Ask HOW? to setup up wallet. BTC ETH

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

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
Источник: MarketWatch - 🏆 3. / 97 Прочитайте больше »

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…
Источник: mercnews - 🏆 88. / 68 Прочитайте больше »

Google earnings: Alphabet will disclose AI investmentsAlphabet will disclose its investments in AI on future earnings reports. The move signals the company's seriousness about competing in the AI race.
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »