![]() Sundar Pichai, CEO of Alphabet and Google, said its performance in Q2 was driven by Search and Cloud. Alphabet's shares even tumbled 3% following Snap's results. The revenue slowdown follows dismal results from Twitter and Snap recently. Its net income for the quarter fell from US$18.52 billion to US$16 billion. ![]() The tech giant's Q2 revenue was US$69.69 billion, a 13% year-on-year increase which was slower compared to 23% in Q1 and 41% for the whole of 2021. Meanwhile, APAC revenues rose 4% to US$11.71 billion during Q2 2022.Īccording to Reuters, Google search surpassed expectations and Alphabet's shares also rose 5.5% in after-hours trading after the results. However, overall revenue in Q2 still lagged behind Wall Street expectations by nearly US$190 million, the Wall Street Journal said. Google Network raked in US$8.26 billion in revenue, up from US$7.6 billion in the same period last year while Google Cloud revenue rose from US$4.62 billion to US$6.28 billion. That said, this was still a dip in revenue for YouTube as the platform raked in US$8.6 billion during the fourth quarter of 2021. Search revenue, in particular, jumped from US$35.85 billion to US$40.69 billion, while revenue for YouTube ads rose to US$7.34 billion from US$7 billion. Google's parent Alphabet saw ad revenue rose during the second quarter to US$56.29 billion from US$50.44 billion.
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