{"id":96472,"date":"2022-04-27T03:40:56","date_gmt":"2022-04-26T22:10:56","guid":{"rendered":"https:\/\/centralrecorder.com\/youtube-slowdown-hurts-alphabet-q1-results-earnings-and-revenue-miss-send-shares-tumbling-after-hours\/"},"modified":"2022-04-27T03:40:56","modified_gmt":"2022-04-26T22:10:56","slug":"youtube-slowdown-hurts-alphabet-q1-results-earnings-and-revenue-miss-send-shares-tumbling-after-hours","status":"publish","type":"post","link":"https:\/\/centralrecorder.com\/youtube-slowdown-hurts-alphabet-q1-results-earnings-and-revenue-miss-send-shares-tumbling-after-hours\/","title":{"rendered":"YouTube Slowdown Hurts Alphabet Q1 Results; Earnings And Revenue Miss Send Shares Tumbling After Hours"},"content":{"rendered":"<div>\n<p>Shares in Google and YouTube parent Alphabet slipped 5% in after-hours trading after the tech giant reported first quarter results below Wall Street expectations.<\/p>\n<p>Video subsidiary YouTube, which has been on a tear in recent quarters, posted slower growth in the quarter.\u00a0Ad revenue on the platform increased 14% to $6.87 billion.<\/p>\n<p>CFO Ruth Porat, speaking to analysts on a conference call to discuss the results, said Russia\u2019s invasion in Ukraine had an \u201coutsized impact\u201d on YouTube ads. Alphabet paused overall operations in Russia, as did a host of other U.S. companies, and many advertisers pulled back on YouTube ad spending, especially European companies. Asked about lingering impact in the quarter, she said it was premature to assess as hostilities have continued.<\/p>\n<p>Revenue rose 23% to a bit more than $68 billion. Earnings per share fell to $24.62 from $26.29 in the year-earlier period, missing Wall Street analysts\u2019 consensus forecast by more than a dollar. The top-line sales number also fell short of estimates.<\/p>\n<p>Alphabet stock, which fell 3% during the regular trading day, drifted down almost another 5% after hours to around $2,263.10. It has recently fallen to its lowest point in nearly a year.<\/p>\n<p>Pressed repeatedly by analysts about the state of YouTube, which faces a wave of new competitors like TikTok, executives repeatedly affirmed the strength of the video outlet. About 2 billion registered users log in every month and creators are uploading content at a record clip.<\/p>\n<p>The management team also touted YouTube Shorts, the burgeoning short-form extension that has been ramping up over the last couple of years. Google has established a $100 million fund to reward the makers of the most-viewed shorts, an incentive program operating in more than 100 countries. About 40% of the total population of creators will get proceeds from the fund in 2021, according to Chief Business Officer Philipp Schindler.<\/p>\n<p>Shorts, a direct competitor with TikTok, now draws 30 billion daily views. \u201cWe\u2019re also testing ads on Shorts,\u201d Schindler noted, \u201cand campaigns are encouraged by the early results. \u2026 We\u2019re very actively working on what monetization could look like in the future.\u201d<\/p>\n<p>A litmus test for advertiser appetite for YouTube overall will be next month\u2019s annual Brandcast event. The elaborate pitch for media buyers has shifted into the main broadcast upfront week, scheduling the showcase at a Broadway theater in New York on May 17. It will be the first in-person Brandcast since 2019 as Covid restrictions continue to ease.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Shares in Google and YouTube parent Alphabet slipped 5% in after-hours trading after the tech giant reported first quarter results below Wall Street expectations. Video subsidiary YouTube, which has been on a tear in recent quarters, posted slower growth in the quarter.\u00a0Ad revenue on the platform increased 14% to $6.87 billion. CFO Ruth Porat, speaking [&hellip;]<\/p>\n","protected":false},"author":51,"featured_media":96473,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[101,3,105,106],"tags":[],"jetpack_featured_media_url":"https:\/\/centralrecorder.com\/wp-content\/uploads\/2022\/04\/YouTube-Slowdown-Hurts-Alphabet-Q1-Results-Earnings-And-Revenue-Miss.jpg","_links":{"self":[{"href":"https:\/\/centralrecorder.com\/wp-json\/wp\/v2\/posts\/96472"}],"collection":[{"href":"https:\/\/centralrecorder.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/centralrecorder.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/centralrecorder.com\/wp-json\/wp\/v2\/users\/51"}],"replies":[{"embeddable":true,"href":"https:\/\/centralrecorder.com\/wp-json\/wp\/v2\/comments?post=96472"}],"version-history":[{"count":0,"href":"https:\/\/centralrecorder.com\/wp-json\/wp\/v2\/posts\/96472\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/centralrecorder.com\/wp-json\/wp\/v2\/media\/96473"}],"wp:attachment":[{"href":"https:\/\/centralrecorder.com\/wp-json\/wp\/v2\/media?parent=96472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/centralrecorder.com\/wp-json\/wp\/v2\/categories?post=96472"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/centralrecorder.com\/wp-json\/wp\/v2\/tags?post=96472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}