Google and Microsoft released their quarterly earnings yesterday. Both companies missed the mark and fell short in some areas, but for the most part hold steady given circumstances such as the war in Ukraine (pulling their services out of Russia), supply chain issues, economic uncertainty, and hiring freezes. There are growing fears of a global recession. But you wouldn’t know it by listening to today’s earnings calls. It wasn’t mentioned, once. But it was alluded to.
Here are some key takeaways:
- Total Alphabet revenue 13% increase YoY to $69.7 billion (from $61.9 billion by the end of Q2 in 2021)
- Google Ad revenue $56.3 billion (up from $50.4 in 2021)
- YouTube revenue $7.3 billion (up 5% from $7 billion in 2021), which missed analysts’ predictions of $7.5 billion
- Microsoft ad revenue decreased by about $100 million due to reductions in advertising spend
- LinkedIn revenue increased 26% (up 29% in constant currency)
Holding steady. Google claims that despite some pullback from advertisers and the loom of financial uncertainty, performance in search was strong and “customers are still seeing value.” During the earnings call CEO Sundar Pichai spoke about search changes and increased opportunities for shopping, as well as attempts to compete with TikTok and Instagram.
YouTube Shorts momentum. Pichai said YouTube Shorts are watched by over 1.5 billion signed in users per month, and over 30 billion daily views. Subscribers surpassed 5 million subscribers – including trials....
Read Full Story: https://searchengineland.com/alphabet-microsoft-release-end-of-quarter-earnings-386751
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