Google Misses Analyst Expectations, Shares Plummet

Online ad spend has been in decline over the last months as the global economy is slowing down. As a result, Google’s parent company Alphabet reports a decline in sales growth.

The company on Thursday announced to slow hiring and cut costs, following a decline in the stock price after failing to meet expectations by analysts, reports Bloomberg.

YouTube ad sales underperformed significantly as inflation is cutting into ad markets and competition with TikTok over advertisers has become fiercer.

Give us 1 week in your inbox & we will make you smarter.