The Clap
Google’s parent company Alphabet (NASDAQ: GOOGL) reported weaker-than-expected Q1-2022 earnings, with YouTube particularly being off expectations.
The deets
Overall revenue & earnings per share were slightly below expectations, but YouTube really missed its target, recording $6.87 billion vs. an expected $7.51 billion in advertising revenue.
Why this matters
Just last week Snapchat reported a “challenging” quarter, citing macroeconomic conditions, & projecting a continuation of reduced ads. YouTube’s numbers are another sign that the digital media ad market is getting hit hard. One platform that’s raising its market share? TikTok.
