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#Economix frisco android
As usual, most of that money poured in from Google's dominant search engine and a wide range of other popular services, including its maps, Gmail, Chrome browser, YouTube video site and Android software for smartphones.Įven though both the revenue and earnings came in slightly below analyst estimates, the numbers apparently weren't as bad as investors feared. The Mountain View, California, company earned $16 billion, or $1.21 per share, during the second quarter - although even that was a 14% decrease from last year. YouTube's ad revenue climbed by 5% from the previous year during the second quarter, the lowest rate of year-over-year quarterly growth since Alphabet began to disclose the video site's financial results in late 2019.ĭespite the slowdown, Alphabet remains extremely profitable.
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The more sluggish spending was especially evident at YouTube, where major advertisers in recent years have increasingly gravitated to promote their brands with short commercials. The cause: advertisers retreated while most consumers were being corralled at home during the pandemic's early stages. But it marked Alphabet's lowest growth rate since the the April-June quarter of 2020, when the company suffered the first, and so far only, year-over-year revenue decline in its history. That would be impressive growth for most companies outside of tech. In Alphabet's case, revenue during the April-June period totaled $69.7 billion, a 13% increase from the same time last year.
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The array of new challenges facing the industry has already caused the tech-driven Nasdaq composite index to plummet by 26% so far this year. The regression reported Tuesday by Google's corporate parent, Alphabet, is the latest sign that the tailwinds propelling big technology companies during the pandemic have shifted. SAN FRANCISCO (AP) - Google's revenue growth during the past quarter decelerated to its slowest pace in two years as advertisers reined in their spending amid intensifying fears of an economic recession.