Google’s profits were damaged even more than expected as the COVID-19 pandemic caused “a significant slowdown in ad revenues,” parent company Alphabet Inc. revealed in a quarterly earnings report Tuesday.
The first-quarter results, announced after the market’s close Tuesday, initially sent Google shares up more than 3% in after-hours trading. Steep declines in transportation and entertainment ads are expected to plunge digital display ad spending in the U.S. between 5.5% and 18% in the first half of 2020, or about $8 billion to $13 billion less, according to eMarketer analyst Nicole Perrin. In early March, before COVID-19 began its stranglehold on the economy, she expected a 19% increase for the year.
Of course, the FED is buying to support the retirement fund Ponzi scheme.
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:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
YouTube Q1 Revenue Climbed 33% to $4 Billion, Parent Alphabet Misses on EarningsYouTube generated $4.04 billion in ad revenue for the first quarter of 2020, up 33% from the year prior. Alphabet, the parent company of Google and YouTube, topped Wall Street estimates for Q1 reve…
Source: Variety - 🏆 108. / 63 Read more »
Live: Here come Google and Alphabet's Q1 earnings - Business InsiderAlphabet is set to announce its Q1 2020 earnings, and all eyes are on how much damage the pandemic is doing to its ad business.
Source: BusinessInsider - 🏆 729. / 51 Read more »
SiriusXM Revenues and Earnings Rise, Despite Plunging Auto Sales and AdvertisingSirius XM’s revenue and earnings rose more than expected in its first quarter, but the satellite-radio giant said it lost 143,000 net subscribers for the first quarter, while adding 69,000 se…
Source: Variety - 🏆 108. / 63 Read more »
Caterpillar is about to report earnings, and Oppenheimer sees stock stabilizingCaterpillar is set to report earnings, one of the largest industrials stocks to give insight into how the coronavirus pandemic has hit the sector. TradingNation TradingNation Upside? For Cat? In 2020? Yeah right.
Source: CNBC - 🏆 12. / 72 Read more »
Alphabet set to report earnings after the bell — here's what two traders are watchingAs Google parent Alphabet gears up to report earnings in a troubled tape, two traders predict what could be ahead for the technology giant. TradingNation
Source: CNBC - 🏆 12. / 72 Read more »