YouTube Advertising Revenue Slips, Helping Drag Alphabet Q3 Results Below Wall Street Expectations
Reading now: 119
deadline.comGoogle and YouTube parent Alphabet undershot Wall Street analysts’ expectations for the third quarter, reflecting a significant slowdown in digital ad buying.
The tech giant had a shade less than $69.1 billion in revenue, up 6% from the year-ago period (or 11% when foreign currency gyrations are factored out), with earnings per share of $1.06.
Analysts had expected $70.6 billion in revenue and EPS of $1.25. Advertising revenue on YouTube slipped 2% to $7.071 billion, a notable stumble given the potency of the video platform in 2020 and 2021.
As macroeconomic conditions have worsened this year, a wide range of tech companies have been hobbled, with spending on digital ads diminishing.
Read more on deadline.com
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
