Google's parent company, Alphabet posted a drop in its fourth-quarter earnings for 3 months that ended in December 2022, as it grapples with a slowdown in digital advertising spending.
In its posted Q4 consolidated revenue, revenue grew only 1% YoY to $76.05 billion, from the $75.3 billion recorded in Q4 2021. While net income plummeted 34% in the quarter to $13.62 billion ($20.6 billion in Q4 2021), or earnings of $1.05 per share.
As seen in the Techloy chart below, Alphabet's revenue has continued on a downward trend throughout the year from the previous year as the software giant suffers a pullback from the soaring growth in the advertising market it witnessed during the coronavirus pandemic.
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