Ad sales at Google slowing as Q3 profits fall at parent company Alphabet Inc

Andrew Banks

October 26, 2022 9:03

Google’s parent company, Alphabet Inc. has released its financial results for the quarter that ended 30 September 2022, showing a third-quarter net income of $13.91 billion (AU$21.76 billion).

The California-based company said it had a net income of $1.06 (AU$1.66) per share. It posted revenue of $69.1 billion (AU$108 billion) in the period.

Alphabet and Google CEO, Sundar Pichai, CEO said: “We’re sharpening our focus on a clear set of product and business priorities. Product announcements we’ve made in just the past month alone have shown that very clearly, including significant improvements to both Search and Cloud, powered by AI, and new ways to monetise YouTube Shorts. We are focused on both investing responsibly for the long term and being responsive to the economic environment.”

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Andrew Banks

Andrew is an editor and journalist with over 27 years' experience, working across publications including news.com.au, The Sunday Telegraph and The Australian newspaper.

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