Google’s Q4 Report: The Challenges & Opportunities For Marketers
Google's parent company saw a 9% decline in revenue and 1% drop in Search revenue. CEO Sundar Pichai remains optimistic due to investments in AI.
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Google’s parent company, Alphabet Inc., reported its fourth straight quarter of declining profits.
It made $76 billion in sales over the past three months, but it wasn’t enough to meet Wall Street’s expectations.
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Google’s revenue was down 9% compared to last year, and its biggest business, Google Search, saw a 1% drop in revenue. Even YouTube’s advertising sales fell by nearly 8%.
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Alphabet has decided to cut its workforce by 12,000 and expects to spend between $1.9 billion and $2.3 billion on employee severance costs.
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This latest earnings report shows tech giants like Google are facing challenges in the current digital advertising landscape.
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But Google’s CEO, Sundar Pichai, believes that the company’s long-term investments in AI will be a key factor in its future success.
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In a press release, Pichai says he expects major AI advancements to be soon revealed in Google search and other areas: