Search advertising has been more resilient during swings in the economy than spending on social media, where digital media competitors such as Facebook parent Meta Platforms Inc. and Snap Inc. have seen more dramatic declines in demand. Even video site YouTube, which has been a drag on the company’s results in recent quarters, performed better than expected, drawing $6.69 billion in advertising revenue, though it still registered a drop from the year-ago quarter.
“Search performance will serve as an early indicator of Google’s ability to maintain its dominance in the area responsible for the majority of its revenue,” Evelyn Mitchell, a senior analyst with Insider Intelligence, wrote in a note.
Recent news: Google expands visibility into who’s behind ads
The company’s closely watched cloud unit, which is much smaller than competitive offerings from Microsoft and Amazon.com Inc., reported a profit of $191 million. As its core search advertising business matures, Google sees cloud as a growth area. Alphabet said in a note to investors ahead of the results that it had shifted the reporting of some costs from Google Cloud to Google Services, likely aiding the long-running campaign for profitability.
from Digital Marketing Education https://ift.tt/ZufQPa8
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