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Alphabet revenue falls short as YouTube and TikTok battle for users

Supply issues, inflation and war in Ukraine fuel Google parent company’s first-quarter struggles
Alphabet’s first-quarter revenue was below expectations. Photograph: Justin Sullivan/Getty Images

Alphabet’s first-quarter revenue was below expectations. Photograph: Justin Sullivan/Getty Images

Alphabet’s first quarter revenue fell below analysts’ expectations on Tuesday, as the company confronts supply chain problems, inflation concerns, and fallout from the war in Ukraine.

In its quarterly earnings report, Google’s parent company said it had made a quarterly profit of $16.436bn, or $24.62 per share, missing expectations of $25.76 per share.

Alphabet reported a substantial miss in its YouTube segment, fueled in part by rising competition with the short form video platform TikTok and advertisers responding to high inflation rates.

“Google’s underwhelming results underline the view that the search giant is struggling with slowing revenue growth as advertisers cut back on spending due to a slowdown in consumer demand amid the current inflationary environment,” said Jesse Cohen, a senior analyst at Investing.com.

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Author: Editors Desk

Source: The Guardian

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