Alphabet disappoints with revenue and net income below expectations

Published on 02.02.2023 at 16:34

Alphabet, the parent company of Google and YouTube, is frustrated by the slight decline in sales. (Photo: 123RF)

SAN FRANCISCO — Alphabet (GOOGL), the parent company of Google and YouTube, disappointed on Thursday as revenue dropped slightly to $76 billion in the fourth quarter of 2022 as the tech giants appear to be entering a frugality era after laying off thousands of people.

Its net income was below analysts’ forecasts at $13.6 billion compared to $20.6 billion last year, according to the income statement. The world’s number one online advertising title lost more than 4% in post-closing electronic trading.

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