First quarter of 2022 also disappointing for Alphabet, the parent company of Google. The web giant was punished by the disappointing YouTube achievements Record 2021 now seems to be a thing of the past. Revenues were up +23%, but so were costs (mainly in research and development), with net revenues stopping at $16.4 billion from $17.9 billion a year ago.
During the same period Alphabet has registered 54.66 billion in revenue exclusively from the advertising market, the pillar of the company’s business model.
YouTube’s performance is also disappointing: advertising revenues are growing, but the goals of analysts and investors are not being achieved. By 2021, the video platform had registered 30% growth, but this year Google was unable to replicate the result — perhaps also due to the growing competitiveness of TikTok, which has now conquered several fundamental demographics.
Sundar Pichai, CEO of Google, expressed the progress made in Search and Cloud spending. “They help people and companies in their digital transformation process,” he said. And then the promise: “We continue to invest in great new products and services”.
Source: Lega Nerd
