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YouTube Ad Revenue Drops 2.6% in Q1, Alphabet Takes $2 Billion Charge for Layoffs

Todd Spangler Ny Neal Mohan reports record Digital google CEO Provident Platform
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Todd Spangler NY Digital Editor YouTube’s advertising revenue dropped for the third quarter in a row, dragging down Google’s financial results as the video platform continues to navigate a soft ad market.

Ad sales at YouTube declined 2.6% year over year in the first quarter of 2023, to $6.69 billion. Analysts expected it to come in at $6.6 billion, per FactSet.

Parent company Alphabet doesn’t break out YouTube’s subscription revenue (from YouTube TV or YouTube’s other premium services).

YouTube revenue was down 7.8% in the fourth quarter of 2022 following a 1.9% dip the quarter before that. In February, Susan Wojcicki stepped down as YouTube’s CEO after nine years in the role, staying on at Alphabet in an advisory capacity.

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