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July 30, 2020 08:42 pm
Illustration by Alex Castro / The Verge
Original Link: https://www.theverge.com/2020/7/30/21345014/google-youtube-alphabet-revenue-decline-q2
Google parent company Alphabet sees its first revenue decline in history
Illustration by Alex Castro / The Verge
Google parent company Alphabet warned in last quarter that it was expecting to see the impact of coronavirus in the second quarter results, and it did: the company saw its first revenue decline in its history. But it managed to beat Wall Street’s revenue expectations.
Total revenue for the quarter was $38.3 billion, versus the $37.4 billion expected, but that marks a 2 percent decline from the second quarter of 2019. Net income dropped to $6.9 billion, from $9.9 billion a year ago,. Revenue for Search was $21.3 billion, down from $23.6 billion.
“We continue to navigate through a difficult global environment,” CFO Ruth Porat said in a statement announcing the earnings.
One bright spot was YouTube, where advertising revenue rose to $3.81...
Original Link: https://www.theverge.com/2020/7/30/21345014/google-youtube-alphabet-revenue-decline-q2
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