The company’s stock rose in after-hours trading.
(Photo: dpa)
mountain view The surplus fell in the past quarter year-on-year from 18.5 to 16 billion dollars, as the Internet giant announced on Tuesday after the US market closed. Sales increased meanwhile by 13 percent to 69.7 billion dollars (68.9 billion euros).
The company’s most important division – Google’s advertising business – grew 11.6 percent year-on-year to $56.3 billion. With high inflation and a slowing economy, online advertising spending is on the horizon as businesses rein in costs.
This was noticeable for the video app Snapchat with the slowest growth rate to date. One question is whether the two giants, Google and Facebook, will also feel the effects of the slowdown or whether their size and efficiency will make them more attractive to advertisers, especially in the current situation.
The business with advertising related to Google’s Internet search grew by 13.5 percent to around 40.7 billion dollars. Revenues on the YouTube video platform increased by 4.8 percent to a good $7.3 billion.
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Although Google missed analysts’ expectations, the share gained a good two percent in after-hours trading at times.
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