Income are down at Google mother or father firm Alphabet for the second quarter in a row, even because it brings in extra money. Alphabet introduced in round $16 billion in revenue throughout its second quarter of 2022, down from $18.5 billion throughout the identical interval final yr, the corporate reported in its Q2 2022 earnings report this afternoon.
As with final quarter, it looks like rising bills have performed a component; the corporate really introduced in additional income than it did in Q2 2021. This quarter, its revenues had been nearly $69.7 billion, up from final yr’s $61.9 billion. Nevertheless, in comparison with this time in 2021, Google’s spending round $3 billion extra on each analysis and growth and gross sales and advertising.
Throughout the previous month, Google has warned staff that instances may very well be getting powerful. Early in July, Google CEO Sundar Pichai despatched a memo warning that the corporate’s “not proof against financial headwinds” and saying that the corporate would “should be extra entrepreneurial, working with better urgency, sharper focus, and extra starvation than we’ve proven on sunnier days.” Simply over every week later, the corporate reportedly instructed staff it was pausing hiring for 2 weeks, saying that it could use the time to “overview our headcount.”
The earnings assist present some context for these strikes — Google ended Q2 2021 with 144,056 staff. By Q2 2022, that quantity had ballooned to 174,014.
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