HomeEconomyGoogle owner's profit declined through March with back-to-back losses...

Google owner’s profit declined through March with back-to-back losses in ad revenue

The profits of Alphabet, owner of Google, fell in the first quarter from 16,436 to 15,051 million dollars (13,715 million euros), compared to the same period in 2022, with a consecutive drop in advertising revenue, the company announced on Tuesday. .

Despite Alphabet’s total revenue increasing in the first three months of the year, compared to the same period in 2022, Google’s ad sales were down slightly from a year ago, as noted by the Associated Press. The news agency pointed to the fact that this drop came after another drop, in the last three months of 2022.

The Wall Street Journal can read that this drop in Google’s ad revenue It is the third since it was made publicin 2004.

YouTube’s advertising revenue fell from 6,869 to 6,693 million dollars (6,100 million euros), while Google’s went from 54,661 to 54,548 million dollars (49,721 million euros), according to the company’s statement sent to the market.

In the same text, the company led by Sundar Pichai revealed a $70 billion share buyback process.

“As announced on April 20, 2023, we are teaming up with Google Research and DeepMind to significantly accelerate our progress on [Inteligência Artificial]. This change does not affect the results of the first quarter ”, can be read in the same Alphabet document, about the advances that the company intends to make in the field of AI.

Source: Observadora

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