Report: Google Parent Company’s Stocks Dropped After Revealing Latest Earnings
After Alphabet, a parent company of Google, had shown its earnings in the Q1, the stocks dropped by 7%. The company reported that the first quarter revenue ($36.34 billion) did not overcome the forecast made by analysts ($37.33 billion), though in comparison with the same time last year, the revenue increased by 17%. Sundar Pichai, the CEO of Google, pointed out that the company would continue to invest in YouTube to solve the problems with misinformation and disturbing content considering children and other strata of the population.
“User expectations around privacy are constantly evolving and we stretch ourselves to meet them,” he said. “We will have more changes over the course of the year.”
Alphabet lags far behind Facebook which showed a record revenue growth of $15 billion, Amazon which sets records in earnings four quarters in a row, even Microsoft became the third listed US firm to be valued at $1 trillion. Google has faced a number of struggles in the past year, including workers turmoil, fines of €1.5bn ($1.7bn) over misusing its monopoly on advertising and €50m (£44m) for failing to provide users with transparent and understandable information on its data use policies by the EU. We remind you: Subscribe to The Coin Shark news in Facebook: