Google’s advertising sales growth slowed in the second quarter, putting a damper on parent Alphabet primary revenue engine as it pours more money into artificial intelligence investments. Alphabet reported that its Google division generated $64.6 billion in ad sales from April to June, an increase of 11.1% from the same period last year. Shares in Alphabet were down 1.4% during after-hours trading after Chief Financial Officer Ruth Porat indicated third-quarter operating margins would be crimped by investments in technical infrastructure and the cost of launching new hardware products, such as the Pixel phone. Read More...
Google’s advertising sales growth slowed in the second quarter, putting a damper on parent Alphabet primary revenue engine as it pours more money into artificial intelligence investments. Alphabet reported that its Google division generated $64.6 billion in ad sales from April to June, an increase of 11.1% from the same period last year. Shares in Alphabet were down 1.4% during after-hours trading after Chief Financial Officer Ruth Porat indicated third-quarter operating margins would be crimped by investments in technical infrastructure and the cost of launching new hardware products, such as the Pixel phone.
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