July 30, 2020

Google parent Alphabet profit dives as virus hits ad market

San Francisco (AFP) – Google parent Alphabet reported a rare drop in revenue and profit on Thursday in a quarterly update that nonetheless topped market expectations.Profit slumped some 30 percent to $6.96 billion from a year for the online giant that relies on digital advertising for most of its income.Revenues dipped two percent to $38 billion, as chief financial officer Ruth Porat said; “We continue to navigate through a difficult global economic environment.”Google shares were little changed in after-market trading following the release.Revenue regained ground in the second quarter in sear…

source https://this.kiji.is/en/661685812732511329?c=648607265489716321

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