"Alphabet's Disappointing Ad Revenue Results in Stock Decline"
TL;DR
Alphabet, Google's parent company, reported fourth quarter earnings that missed analysts' expectations on ad revenue, causing the stock to slide 4% lower in extended trading. Despite the ad revenue miss, the company saw continued growth in its cloud business, with revenue exceeding expectations at over $9 billion. Google CEO Sundar Pichai highlighted the strength in Search, YouTube, and Cloud, all benefiting from AI investments and innovation. The earnings report comes after Google's recent layoffs and its push to claim more market share in the cloud computing industry.
- Alphabet misses expectations on Google ad revenue, sending stock lower Yahoo Finance
- Alphabet shares slide on disappointing Google ad revenue CNBC
- Alphabet’s stock dips because advertising was good, but not good enough MarketWatch
- Alphabet Earnings: Google's Sales Rebound in Fourth Quarter - WSJ The Wall Street Journal
- Alphabet posted $307.4 billion in revenue for the 2023. It also spent $2.1 billion on layoffs. The Verge
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