Alphabet (Google) reduces profit by 26.5% in the third quarter

MADRID, 26 Oct.

Alphabet (Google) reduces profit by 26.5% in the third quarter


Alphabet, Google's parent company, obtained a net profit of 13,910 million dollars (14,031 million euros) in the third quarter of 2022, which represents a decline of 26.5% compared to the company's result in the same period from the previous year.

The technology giant's revenue between July and September 2022 registered a year-on-year increase of 6% compared to the third quarter of last year, to 69,092 million dollars (69,695 million euros), as reported.

Specifically, revenue from the search business increased by 4.2%, to 39,539 million dollars (39,884 million euros), while YouTube turnover decreased by 1.8%, to 7,071 million dollars (7,133 million euros). euros).

In this way, Alphabet's services business grew by 2.5% in the third quarter, to 61,377 million dollars (61,913 million euros), while the US technology company's cloud business rose by 37.6 %, up to 6,868 million dollars (6,928 million euros).

"Third-quarter financial results reflect fundamentally healthy growth in search and cloud momentum, while being affected by foreign exchange," said Ruth Porat, chief financial officer of Alphabet and Google.

In the first nine months of 2022, the Mountain View multinational obtained a net profit of 46,348 million dollars (46,753 million euros), 16.3% below the result recorded a year earlier, while revenues increased by 13 .4%, up to 206,788 million dollars (208,593 million euros).

"We're sharpening our focus on a clear set of product and business priorities. The product announcements we've made in the last month have shown that very clearly, including significant improvements in both search and cloud, powered by AI, and new ways to monetize YouTube," said Sundar Pichai, CEO of Alphabet and Google.