Google reported earnings final evening and their advert income not solely slowed however was technically decrease 12 months over 12 months. Google’s advert income was down about 3.6%, whereas whole 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 Adverts grew 10% final quarter.
Here’s a have a look at Google’s earnings numbers for the previous 3 years:
You possibly can see that This autumn 2021 was greater than This autumn 2022!
Ruth Porat, CFO of Alphabet and Google, stated: “Our This autumn consolidated revenues had been $76 billion, up 1% 12 months over 12 months, or up 7% in fixed forex, and $283 billion for the complete 12 months 2022, up 10%, or up 14% in fixed forex. We now have important work underway to enhance all facets of our value 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. Remember, Google’s revenue was insane – $18 billion, that’s $1 billion in revenue per week! Certain, Google’s internet revenue was down 34% 12 months over 12 months, so I get Wall Road.
Discussion board dialogue at Twitter.
