Google Shares Slip after Sales Miss as Advertising Demand Slows

CEO says company working toward a more durable cost structure
Google will be more focused on AI, with updates soon

Alphabet Revenue Misses, Shares Drop in Late Trading

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By Davey Alba

February 2, 2023 at 9:06 PM UTC

Updated on

February 2, 2023 at 11:10 PM UTC

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Google parent Alphabet Inc. reported fourth-quarter results that narrowly missed analysts’ expectations, signaling lower demand for its search advertising during an economic slowdown.

Sales, excluding partner payouts, were $63.1 billion in the fourth quarter, the company said Thursday in a statement. Analysts had projected $63.2 billion, according to data compiled by Bloomberg. Shares fell more than 3% in extended trading.