Google reported earnings final night time and their advert income not solely slowed however was technically decrease yr over yr. Google’s advert income was down about 3.6%, whereas complete income was up simply round 1%.
Right here is the snippet from the earnings report exhibiting that:
Keep in mind, Microsoft reported earnings the week prior and confirmed slowed development however nonetheless development. Microsoft Bing Advertisements grew 10% final quarter.
Here’s a take a look at Google’s earnings numbers for the previous 3 years:
You possibly can see that This fall 2021 was larger than This fall 2022!
Ruth Porat, CFO of Alphabet and Google, stated: “Our This fall consolidated revenues have been $76 billion, up 1% yr over yr, or up 7% in fixed foreign money, and $283 billion for the complete yr 2022, up 10%, or up 14% in fixed foreign money. We now have important work underway to enhance all elements of our price construction, in assist of our investments in our highest development priorities to ship long-term, worthwhile development.”
Therefore the mass Google layoffs to chop prices and enhance revenue. Consider, Google’s revenue was insane – $18 billion, that’s $1 billion in revenue per week! Positive, Google’s web revenue was down 34% yr over yr, so I get Wall Road.
Discussion board dialogue at Twitter.
