Advertising slump sinks Google investor confidence despite overall high revenue
by Kari Paul from on (#6J8PR)
The tech giant beat revenue predictions for the last quarter of 2023 but failed to deliver on predicted advertising revenue
Alphabet stock slid more than 5% in after-hours trading Tuesday despite narrowly beating overall revenue predictions for quarter four of 2023 after the tech giant fell short in its key advertising sector.
The Google parent company reported a miss on predicted advertising revenue at $65.52bn compared to $65.8bn, but beat predictions for overall revenue at $86.31bn compared to $85.36bn - up 13% year over year.
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