While Google’s parent company Alphabet saw strong revenue growth in the last quarter, ad revenues have fallen short of analysts’ estimates.
The tech giant reported ad revenue of $65.52 billion, slightly below the $65.94 billion expected for Q4 of 2023. But this was stronger than the $59.04 billion in Q4 2022.
Alphabet-owned YouTube, which has been helping to drive accelerated growth, also came in just shy of expectations.
Looking at its rivals, Facebook’s ad business is growing faster while TikTok represents a growing threat as younger users turn to the app to create short videos.
Alphabet CEO Sundar Pichai continues to focus on investments in artificial intelligence (AI) a
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