Punctuating the struggles of most sellers of digital advertising in the current climate, Google parent Alphabet reported an 8% drop in ad revenue at YouTube in the fourth quarter
Google’s struggles in all ad categories dragged Alphabet earnings below expectations. On a per-share basis, they slipped to $1.05 from $1.53 in the year-ago quarter. Analysts had expected profit of $1.19 a share. YouTube, which has seen a boom in overall viewing and growth in its extensions in short-form video and pay-TV, posted ad revenue of $7.963 billion, compared with $8.633 billion in the prior-year period.
A pullback in digital advertising, prompted by a turbulent macroeconomic environment highlighted by high inflation and surging interest rates, has hit several tech giants of late. Snap Inc. and Meta Platforms issued soft ad results earlier this week, though Meta’s eclipsing of Wall Street forecasts and other factors powered a strong gain in its share price despite the ad-sales woes.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Google Forms: Sign-inDo you want to gain valuable experience covering higher education, work with other student journalists from around the state and see your stories published by CalMatters? Apply for our College Journalism Network CSU fellow today.
Read more »
Google Forms: Sign-inWe don't want to stress you out, but tax season is here and our financial expert wants to help. 🤑 If you've got burning questions about taxes, ask us here:
Read more »
Alphabet earnings: What to expect from the Google parent companyAlphabet Inc. investors are probably breathing a little easier ahead of the company's Thursday afternoon earnings report, all thanks to Facebook
Read more »
Alphabet Misses Q4 Earnings Estimates, YouTube Ad Revenue Drops by Nearly 8%Alphabet, parent company of Google and YouTube, turned in fourth-quarter 2022 earnings that missed analyst estimates, as YouTube’s ad revenue again notched a year-over-year decline. Overall, …
Read more »
Google 'rater' contract workers rally at Mountain View headquarters to demand higher payDozens of Google workers from across the country rallied at Google headquarters Wednesday to demand higher wages and benefits from Google's parent company Alphabet.
Read more »
MLB Network Yanked From YouTube TV Lineup As Contract Talks Break DownMLB Network was pulled off the YouTube TV platform Tuesday as talks broke down over a new carriage agreement, the news coming as the league put the finishing touches on its 2023 regular-season schedule that begins March 30
Read more »