Alphabet Q1 2022 earnings show YouTube misses amid increased competition

Alphabet Q1 2022 earnings show YouTube misses amid increased competition

Alphabet Q1 2022 earnings show YouTube misses amid increased competition



What you need to know

  • Alphabet announced first quarter earnings for 2022.
  • The company brought in more than $68 billion in revenue with increased revenue in most areas, including hardware.
  • Growth has slowed when compared to the same period last year.

Google’s parent company, Alphabet, has announced its first-quarter earnings for 2022. The company managed to make more than $68 billion in revenue, down from $75 billion in the previous quarter but up 25% year-over-year.

The biggest driver, of course, was Google’s ad business, with Search bringing in nearly $40 billion in revenue and YouTube ads accounting for nearly $7 billion. Still, YouTube revenue fell short compared to analyst expectations of $7.5 billion (via CNBC), likely due to competing streaming apps like TikTok growing in popularity. Google Cloud also increased its revenue year-over-year as the company focuses on scaling its business, although it still operates at a loss, albeit slightly a narrower one.



Source link

%d bloggers like this: