Todd Spangler NY Digital EditorYouTube advertising sales for the first three months of 2022 grew 14%, to reach $6.9 billion — missing Wall Street expectations and representing a major cooling off from the torrid pace the video giant had seen during the COVID pandemic.By comparison, YouTube’s ad revenue growth was 49% in the year-ago period and was up 46% for the full year 2021.
Alphabet, the parent company of Google and YouTube, reported total revenue for Q1 of $68.01 billion, up 23%, and net income of $16.44 billion (or $24.62 per share), falling shy of Wall Street expectations.Click here to sign up for Variety’s free Strictly Business newsletter covering earnings, financial and investment news, and more.Financial analysts on average expected Alphabet to post Q1 revenue of $68.1 billion and EPS of $25.96, per Refinitiv.
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