Google Signals Bad Omen Ahead for Facebook – TheStreet

Alphabet  (GOOGL) – Get Alphabet Inc. Class A Report, parent company of Google, was one of the big beneficiaries of the economy of the Covid-19 pandemic. The firm has indeed taken advantage of the restriction measures which have forced millions of consumers to stay at home and communicate or stay in touch with the rest of the world mainly via technology. But with the reopening of economies and the return of employees to the office, the situation seems to have changed. In any case, this is the message sent by Alphabet when it published its first quarter results.Revenues have certainly increased by 22.95% to $68.01 billion compared to the first quarter of 2021 but they are below the expectations of financial analysts, who anticipated $68.05 billion. However, the rate of growth is slower than a year ago. In the first quarter of 2021, revenues had indeed increased by 34%.Alphabet posted net profit of $16.4 billion, down 8.33% year-on-year. Slow Growth at YouTubeWhat is interesting is the performance of YouTube. The platform’s revenue increased 14.4% to $6.87 billion compared to the 2021 first quarter. But it is significantly lower than the $7.21 billion that were anticipated by analysts.The disappointment was such that the…
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