|

Alphabet misses earnings as YouTube ad revenue slides

Alphabet misses earnings as YouTube ad revenue slides
In brief

Alphabet, the parent company of Google and YouTube, saw its revenue growth slow to 6% in Q3 2022, a far cry from the 41% growth it achieved a year earlier and below analyst expectations ($69.09bn compared to an expected $70.58bn).

Declining growth was in part enabled by a 2% drop in ad revenue for YouTube ($7.07bn compared to $7.21bn in Q3 2021). It is the first time YouTube’s ad revenue shrank since Alphabet started reporting its earnings separately in 2019.

The missed earnings may be a bellwether for the digital ad market, which the IAB UK has warned won’t be immune from spending cuts.

Media Jobs