1 year, 2 months ago

Google’s parent posts double-digit revenue growth in 4th quarter, but ad sales rise at slower pace

SAN FRANCISCO — Google’s corporate parent returned to double-digit revenue growth during last year’s final quarter, signaling the internet powerhouse has regained its footing even as it grapples with regulatory and competitive threats to its digital empire. The results announced Tuesday by Alphabet Inc. marked the third consecutive quarter of escalating revenue growth for the Mountain View, California, company, with most of the sales coming through Google’s dominance of search and online advertising. “Alphabet’s disappointing ad revenue numbers suggest that corporations worldwide are still uncertain about the pace of interest rate cuts from global central banks, thus keeping some powder dry while waiting for more clues before opening up their wallets,” said Investing.com analyst Thomas Monteiro. It marked Alphabet’s first quarter of double-digit revenue growth since the April-June 2022 period, at the tail end of the pandemic.

Associated Press

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