Facebook Twitter Instagram LinkedIn RSS
    Facebook Twitter Instagram LinkedIn RSS
    SHOOTonline SHOOTonline SHOOTonline
    Register
    • Home
    • News
      • MySHOOT
      • Articles | Series
        • Best work
        • Chat Room
        • Director Profiles
        • Features
        • News Briefs
        • “The Road To Emmy”
        • “The Road To Oscar”
        • Top Spot
        • Top Ten Music Charts
        • Top Ten VFX Charts
      • Columns | Departments
        • Earwitness
        • Hot Locations
        • Legalease
        • People on the Move
        • POV (Perspective)
        • Rep Reports
        • Short Takes
        • Spot.com.mentary
        • Street Talk
        • Tool Box
        • Flashback
      • Screenwork
        • MySHOOT
        • Most Recent
        • Featured
        • Top Spot of the Week
        • Best Work You May Never See
        • New Directors Showcase
      • SPW Publicity News
        • SPW Release
        • SPW Videos
        • SPW Categories
        • Event Calendar
        • About SPW
      • Subscribe
    • Screenwork
      • Attend NDS2024
      • MySHOOT
      • Most Recent
      • Most Viewed
      • New Directors Showcase
      • Best work
      • Top spots
    • Trending
    • NDS2024
      • NDS Web Reel & Honorees
      • Become NDS Sponsor
      • ENTER WORK
      • ATTEND
    • PROMOTE
      • ADVERTISE
        • ALL AD OPTIONS
        • SITE BANNERS
        • NEWSLETTERS
        • MAGAZINE
        • CUSTOM E-BLASTS
      • FYC
        • ACADEMY | GUILDS
        • EMMY SEASON
        • CUSTOM E-BLASTS
      • NDS SPONSORSHIP
    • Contact
    • Subscribe
      • Digital ePubs Only
      • PDF Back Issues
      • Log In
      • Register
    SHOOTonline SHOOTonline SHOOTonline
    Home » Alphabet Posts Reduced Q4 Profit Amid Ad Squeeze, Competition

    Alphabet Posts Reduced Q4 Profit Amid Ad Squeeze, Competition

    By SHOOTFriday, February 3, 2023Updated:Tuesday, May 14, 2024No Comments1532 Views
    Facebook Twitter LinkedIn Telegram Pinterest Tumblr Reddit WhatsApp Email
    In this Feb. 14, 2018, file photo the logo for Alphabet appears on a screen at the Nasdaq MarketSite in New York. Alphabet Inc. reports financial earnings on Thursday, Feb. 2, 2023. (AP Photo/Richard Drew, File)

    By Barbara Ortutay

    --

    Google's parent company Alphabet on Thursday posted lower profit and a small revenue increase for last year's fourth quarter, as a decline in online ad spending and competition from rivals weigh on the search giant.

    While overall revenue grew, advertising revenue fell by nearly 4% and revenue at YouTube declined 8% year-over-year. That appeared to spook investors, who sent the company's stock lower in after-hours trading.

    The company based in Mountain View, California, said it earned $13.62 billion, or $1.05 per share, in the October-December quarter. That's down 34% from $20.64 billion, or $1.53 per share, in the same period a year earlier.

    Revenue inched 1% higher to $76.05 billion from $75.33 billion.

    Analysts expected Alphabet to post earnings of $1.18 per share on revenue of $76.2 billion for period, according to FactSet Research.

    Alphabet, like Facebook parent Meta, Amazon and other tech companies, is navigating a rough economic patch that's especially hurting the online advertising market.

    Last month, Alphabet announced it was cutting 12,000 jobs, or about 6% of its workforce. It was the company's biggest-yet round of layoffs and adds to tens of thousands of other job losses recently announced by Microsoft, Amazon, Meta and other tech companies that are tightening their belts in the face of a darkening outlook for the industry.

    In response to the layoffs, Google's unionized workers, members of the Alphabet Workers Union-CWA rallied outside of the company's New York City office during the company's earnings call.

    "Alphabet is one of the most profitable companies in the world, and well positioned to weather any economic storm. Yet instead our executives decided to layoff 12,000 of our coworkers, including many on medical or parental leave, as well as many with over a decade of loyal service," the union said in a statement.

    Alphabet is contending with a "challenging" economic climate and is working to reengineer its cost structure to build "financially sustainable, vibrant growing businesses" across the company, CEO Sundar Pichai said.

    "Our long-term investments in deep computer science make us extremely well-positioned as AI reaches an inflection point, and I'm excited by the AI-driven leaps we're about to unveil in search and beyond," Pichai said in a statement.

    Google is facing some competition in artificial intelligence from Microsoft, which last month announced it is making a "multiyear, multibillion dollar investment" in the artificial intelligence startup

    OpenAI, the maker of the wildly popular ChatGPT and other tools that can write readable text and generate new images.

    The technology could help Microsoft's own search engine, Bing, compete with Google in answering search queries with more complete answers instead of just links.

    Pichai also touted "great momentum" in Cloud, YouTube subscriptions, and Pixel devices, signaling to investors that Alphabet has plenty revenue sources outside of advertising to grow its business.
    Nonetheless, advertising still makes up the bulk of Alphabet's revenue.

    Beyond the economic squeeze, Google is also facing regulatory pressure. Last month, the Justice Department and eight states filed an antitrust suit against Google, seeking to shatter its alleged monopoly on the entire ecosystem of online advertising as a hurtful burden to advertisers, consumers and even the U.S. government.

    The government alleged in the complaint that Google is looking to "neutralize or eliminate" rivals in the online ad marketplace through acquisitions and to force advertisers to use its products by making it difficult to use competitors' offerings.

    Shares in Alphabet Inc. fell about 4% in extended trading after the company's earnings report came out. 

    Barbara Ortutay is an AP technology writer

     

    REGISTRATION REQUIRED to access this page.

    Already registered? LOGIN
    Don't have an account? REGISTER

    Registration is FREE and FAST.

    The limited access duration has come to an end. (Access was allowed until: 2023-02-05)
    Category:News
    Tags:AlphabetGoogle



    HBO Max’s “The Seduction” Reimagines “Dangerous Liaisons” With A Female Gaze

    Thursday, November 13, 2025

    "Welcome to the delicious hell that is high society," beckons the trailer for "The Seduction," HBO Max's steamy new French-language drama inspired by "Dangerous Liaisons." And indeed, when most of us last saw the Marquise Isabelle de Merteuil, she was in her own private hell, wiping white powder off her tear-stained face. This 18th-century Parisian socialite, memorably played by Glenn Close in the 1988 Stephen Frears movie, was ruined every which way — schemes exposed, reputation in tatters, shamed and booed at the opera. Well, "The Seduction" has something to say about her story — or at least, her backstory. The latest adaptation of the 1782 epistolary novel by Choderlos de Laclos, somewhere between a prequel and a remake, retains much of the main story but takes a radical detour into the female gaze. In other words, "it's the #MeToo of the 18th century," says director Jessica Palud, of the six-episode miniseries that launches Friday. So how does one make a #MeToo version of a society where men had all the power — and the swords, too? Where the only weapons available to women were their feminine wiles? The show, an origin story for Isabelle (its title in French is simply "Merteuil"), accomplishes this partly by elevating a minor character, the elderly aunt named Rosemonde, into a powerful figure played by Diane Kruger. Kruger's wealthy and independent Rosemonde forms a surprising alliance with young Isabelle (Anamaria Vartolomei) as the two women seek to navigate a repressive Parisian society and "reverse the codes," as Palud puts it, becoming masters of their own destiny. Also playing major roles are Vincent Lacoste as Valmont (Rosemonde's nephew), stepping into the devious shoes of John Malkovich from the Frears film, and Lucas Bravo (yes,... Read More

    No More Posts Found

    MySHOOT Profiles

    Facebook Twitter LinkedIn Telegram Pinterest Tumblr Reddit WhatsApp Email

    Previous ArticleMotion Picture Academy to honor 8 scientific and technical achievements
    Next Article Stept Studios Adds Director Daniel Wårdh To Its Roster
    SHOOT

    Add A Comment
    What's Hot

    Director Oliver Laxe Sheds Light On “Sirāt,” One Of The Year’s Most Discussed Films

    Thursday, November 13, 2025

    HBO Max’s “The Seduction” Reimagines “Dangerous Liaisons” With A Female Gaze

    Thursday, November 13, 2025

    BBC Apologizes To Trump Over Misleading Edit, But Contends There’s No Basis For A Defamation Lawsuit

    Thursday, November 13, 2025
    Shoot Screenwork

    The Best Work You May Never See: Steve Rogers Directs A Christmas Tale of Togetherness For Telstra

    Friday, November 14, 2025

    Building on last year’s Effie and Cannes-winning campaign for Aussie telecommunications company Telstra, this chapter…

    Top Spot of the Week: Disney, Director Taika Waititi, adam&eveDDB Team On “Best Christmas Ever”

    Thursday, November 13, 2025

    Travelers, TBWA\Chiat\Day NY, Director Henry-Alex Rubin Stage A Touching Holiday “Snowstorm”

    Wednesday, November 12, 2025

    Poke The Bear, Director Jorn Threlfall Help Put A Lad In Santa’s Good Graces With Sweet Treats From See’s

    Tuesday, November 11, 2025

    The Trusted Source For News, Information, Industry Trends, New ScreenWork, and The People Behind the Work in Film, TV, Commercial, Entertainment Production & Post Since 1960.

    Today's Date: Fri May 26 2023
    Facebook Twitter Instagram LinkedIn RSS
    More Info
    • Overview
    • Upcoming in SHOOT Magazine
    • Advertise
    • Privacy Policy
    • SHOOT Copyright Notice
    • SPW Copyright Notice
    • Spam Policy
    • Terms of Service (TOS)
    • FAQ
    STAY CURRENT

    SUBSCRIBE TO SHOOT EPUBS

    © 1990-2021 DCA Business Media LLC. All rights reserved. SHOOT and SHOOTonline are registered trademarks of DCA Business Media LLC.
    • Home
    • Trending Now

    Type above and press Enter to search. Press Esc to cancel.

    Type above and press Enter to search. Press Esc to cancel.