FT News Briefing Google earnings fall on lower ad sales
Oct 26, 2022
Alphabet faces a sharp decline in ad revenue, particularly from YouTube and search ads, signaling changes in consumer demand. Meanwhile, Microsoft shines with cloud offerings that buffer against PC market weaknesses. The European Central Bank prepares to address its balance sheet amidst bond market challenges. Additionally, critical Supreme Court cases could redefine liability for businesses and reshape public policy under a more conservative court, adding uncertainty to the corporate legal landscape.
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Tech Earnings
- Google and Microsoft reported Q3 earnings, revealing Google missed the mark while Microsoft beat expectations.
- Google's revenue growth slowed due to lower ad sales, while Microsoft's cloud computing demand offset PC market weakness.
Google's Ad Slowdown
- Advertising spending reflects consumer demand, and Google's slowdown signals softening demand.
- Google's advertising decline will have ripple effects because of its massive market share.
Microsoft and Cloud
- Microsoft's PC sales declined sharply, impacting their overall performance.
- However, their cloud computing revenue helped offset those losses and maintain growth.