Alphabet, which controls Google, announced this Thursday a profit of $59.972 billion for 2022, a 21% year-over-year decline despite a 10% increase in revenue to $282.836 billion.
The company, which has the world’s most-used search engine and platforms like YouTube, has disappointed investors with its accounts. After the session ended, shares fell six percent on electronic trades.
The deterioration of the advertising business, on which the turnover is based, was identified as the cause, resulting from the current economic situation.
At the end of January, Alphabet announced the layoff of 12 thousand people, equivalent to 6.4% of the total number of employees.
These departures have an estimated cost of between $1.9 billion and $2.3 billion, most of which should be reflected in the accounts for the first quarter of 2023, he said in a statement Thursday.
Source: DN
