Google parent Alphabet posts slowest revenue growth in five years GlobeTechnology
Google-parent Alphabet Inc on Monday reported its worst fourth-quarter revenue growth since 2015, missing analysts’ estimate for a period in which its top online advertising rivals beat expectations.Alphabet offered new disclosures about its cloud computing and YouTube ads units, posting $2.61 billion and $4.72 billion in quarterly revenue from them respectively.
Google over the last year has posted slowing sales growth for its ad business. It has blamed foreign exchange rates and one-time product changes. That left profit of $10.67 billion, or $15.35 per share, compared with the analysts’ average estimate of $8.787 billion, or $12.53 per share. In December, Google Chief Executive Sundar Pichai gained the additional role of Alphabet CEO from Larry Page as he and fellow co-founder Sergey Brin stepped back even further from day-to-day management.
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