Alphabet revenue climbs 13%, but company warns of slowing ad sales [Yahoo! Finance News]
Alphabet Inc. - Class C Capital Stock (GOOG)
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Source: Yahoo! Finance News
Google parent Alphabet GOOGGOOGLreported its Q1 earningsongoing coronavirus pandemicThese are the most important numbers from the report, and what analysts were expecting from the company, as compiled by .Alphabet’s stock was up more than 4% in after hours trading.Unlike other tech companies like Apple, Alphabet never pulled its quarterly guidance — though there have been indications that the firm is undertaking cost-cutting measures. Taken together, the firm said revenue before traffic acquisition costs TAC), was up 13% year-over-year thanks to its search, YouTube, and cloud businesses.Following the earnings release, however, CFO Ruth Porat said the company has seen a slowdown in ad revenue.“Performance was strong during the first two months of the quarter, but then in March we experienced a significant slowdown in ad revenues,” she said. “We are sharpening our focus on executing more efficiently, while continuing to invest in our long-term opportunities.”Alphabet CEO Sundar Pichai w
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Earnings
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GOOG
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