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Alphabet misses on earnings as YouTube shrinks; company will cut headcount growth by half in Q4

Versiunea din 7 noiembrie 2023 18:36, autor: Admin (discuție | contribuții) (Pagină nouă: <p style="text-align: justify;"><br></p><p style="text-align: justify;">Revenue growth slowed to 6% from 41% a year earlier as the company contends with a continued downdraft in online ad spending. Other than one period early in the pandemic, it’s the weakest period for growth since 2013.</p><p style="text-align: justify;">YouTube ad revenue slid about 2% to $7.07 billion from $7.21 billion a year ago. Analysts were expecting an increase of about 3%. Alphabet reported overa...)
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Revenue growth slowed to 6% from 41% a year earlier as the company contends with a continued downdraft in online ad spending. Other than one period early in the pandemic, it’s the weakest period for growth since 2013.

YouTube ad revenue slid about 2% to $7.07 billion from $7.21 billion a year ago. Analysts were expecting an increase of about 3%. Alphabet reported overall advertising revenue of $54.48 billion during the quarter, up slightly from the prior year. Alphabet’s stock fell below $97 after hours. Its lowest close for the year was $95.65 on Sept. 30. 

Prior to the after-hours drop, Alphabet shares are down 28% over the past year, slightly underperforming the Nasdaq. Meta shares fell 4% in extended trading on Tuesday after rallying 6% during the day.

(US.GOOGL) (US.GOOG)


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