Google parent company Alphabet reports slow growth at $16 billion, a 14 percent decrease from last year, despite growing revenue
Alphabte's reported 14% fall of net income was fueled by inflation, conflict and adverstisers pullbacks.
"Google's earnings miss this quarter proves it's not immune to the challenges facing the digital advertising industry at large," said analyst Evelyn Mitchell. That would be impressive growth for most companies outside of tech. But it marked Alphabet’s lowest growth rate since the April-June quarter of 2020, when the company suffered the first, and so far only, year-over-year revenue decline in its history.
“Personally, I find moments like this clarifying," Pichai explained during the call. “It gives us a chance to look at everything we do through a critical lens."
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