Share All sharing options for: Google parent company Alphabet sees its first revenue decline in history
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 was: 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 from $9.9 billion a year ago, to $6.9 billion. Revenue for Search was $21.3 billion, down from $23.6 billion.
One bright spot was YouTube, where advertising revenue rose from $3.6 billion last year, to $3.81 billion this year. Google’s Cloud division saw rising revenue ...
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