Google may post a drop in ad revenue in Q4 results
The total revenue is expected to show a slight increase
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Published: Feb 2, 2023 7:21 PM | 1 min read
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Google is expected to post a drop in advertising revenue as it posts its Q4 results early Friday morning, say media reports. This will the first drop in ad revenue since Covid struck in 2019 giving a huge push to the digital medium.
Google’s parent company Alphabet Inc., according to analysts, is expected to post $60.4 billion in advertising revenue for the fourth quarter, a decrease of 1.3% from the same period in 2021.
Google’s video platform YouTube is also expected to record a second straight quarter of declining revenue. Alphabet is expected to report $76.2 billion of revenue overall during the fourth quarter, a slight increase from the same period in 2021.
Alphabet said last month it would lay off about 12,000 workers, or 6% of its workforce, in response to a weakening economy. Chief Executive Sundar Pichai said during a companywide meeting that top executives would take cuts to their bonuses.
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