Sunday, May 19, 2024

Alphabet’s quarterly profit fell for the second straight quarter as expenses swallowed up revenue


has decreased Alphabet’s quarterly revenue, for the second consecutive quarter, Even if it generates more revenue.

Google’s parent company Alphabet posted a profit of about $16 billion in the second quarter of 2022, up from $18.5 billion in the same period last year, the company said in its second quarter 2022 earnings report.

While the company posted revenue of $69.7 billion in the second quarter of 2022, up from $61.9 billion last year, expenses were higher, with Google spending about $3 billion more on research and development compared to the same period in 2021. Development, Sales and Marketing.

And for the past month, Google has been warning employees that times will be tough.

In early July, the company’s CEO, Sundar Pichai, warned that Google was “not immune to economic headwinds.”

The company, he said, “must be more entrepreneurial, work with more urgency, have sharper focus, and be more hungry than we show on sunny days.”

A week later, the company reportedly told employees it was suspending hiring for two weeks and said it would use the time to “review its headcount.”

As Google ended the second quarter of 2021 with 144,056 employees, that number rose to 174,014 in the second quarter of 2022.

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Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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