Google's stock drops after weak quarterly earnings
In brief
- Google's stock dropped up to 10 % after weak quarterly earnings.
- Search revenue grew only 12 %, below expectations.
- Google is expanding its AI mode ad program globally.
Google's stock fell as much as 10 % following its quarterly earnings report. Cloud revenue more than doubled to $30.7 billion, but search revenue grew just 12 %, below expectations. Google admitted that its AI-powered search mode generates less revenue than traditional search and is now expanding its AI mode ad program internationally.
What it changes for you
- Finance & BankingInvestors are adjusting their positions following Google's declining search revenue, impacting allocation strategies.
- Marketing & AdvertisingAdvertisers are reassessing their spending on Google Search due to slower growth and lower AI-related revenues.
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