Alphabet revenue grew only 1% in Q4 2022 amid slowdown in revenue spending

Google's parent company, Alphabet posted a drop in its fourth-quarter earnings for 3 months that ended in December 2022, as it grapples with a slowdown in digital advertising spending.

In its posted Q4 consolidated revenue, revenue grew only 1% YoY to $76.05 billion, from the $75.3 billion recorded in Q4 2021. While net income plummeted 34% in the quarter to $13.62 billion ($20.6 billion in Q4 2021), or earnings of $1.05 per share.

Google’s parent company Alphabet lays off 6% of its workforce, totaling 12,000 jobs

Alphabet, the parent company of Google, has announced that it will be eliminating around 12,000 jobs, which is 6% of its workforce. This move is the latest in a series of job cuts that have shaken the technology sector recently. The cuts come days after rival Microsoft said it

TechloyAcquah Nana Yeboah

As seen in the Techloy chart below, Alphabet's revenue has continued on a downward trend throughout the year from the previous year as the software giant suffers a pullback from the soaring growth in the advertising market it witnessed during the coronavirus pandemic.