Alphabet's fourth-quarter earnings report reveals a slowdown in Google's cloud computing growth and the impact of digital advertising competition. The company's stock price declines after missing revenue targets.
Alphabet , the parent company of Google , reported lower-than-expected quarterly revenue on Tuesday, signaling the impact of intensified competition in the digital advertising sector and a deceleration in its cloud computing business. The tech giant's share price experienced an 8% decline in after-hours trading. Alphabet 's stock has appreciated by approximately 9% year-to-date. Google Cloud generated $11.
96 billion in revenue during the fourth quarter, representing a 30% increase compared to the previous year. However, this growth rate is down from the 35% surge observed in the September quarter. Analysts had projected a 32.3% rise to $12.16 billion, according to data compiled by LSEG. Despite Google's efforts to integrate AI functionalities into its cloud computing platform, the cloud performance fell short of expectations. This trend mirrors the weaker-than-anticipated growth reported by Microsoft's Azure cloud platform last week.Overall, Alphabet's revenue reached $96.47 billion in the fourth quarter, marking a 12% increase. This figure fell slightly short of the average analyst estimate of $96.56 billion, as compiled by LSEG. The company's results highlight the challenges faced by tech giants in navigating a changing market landscape marked by increased competition and slower economic growth
ALPHABET GOOGLE CLOUD COMPUTING ADVERTISING REVENUE
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