Wall Street punished Google on Tuesday for managers' refusal to give detail...
- Wall Street punished Google on Tuesday for managers’ refusal to give details of changes made to its ad platform in first-quarter results, following a rare miss of expectations for revenue due to a cleanup of YouTube content.
Much of the commentary focused on Google’s drive, like other social media companies including Facebook Inc, to remove fake and harmful content from its platforms, and the rising costs of doing so. Alphabet, which gets most of its revenue from ads, said its quarterly revenue rose 17 percent to $36.3 billion, but that was still about $1 billion short of Wall Street’s average estimate, according to IBES data from Refinitiv.
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