The Q3 earnings report for Google is out and it shows slow growth with potential warnings for advertisers about a further slash in their budget.
The report was for the likes of Search, Ads, and even YouTube. Moreover, it was a huge disappointment in general and we’re breaking it down for you below.
The Q3 earnings showed a decline for YouTube which was almost down by 2%. To help better understand that frame of mind, analysts had predicted growth of nearly 3% but this has to be the first-ever loss since the company began its reporting.
While the company’s Search ads had grown by 4%, the revenue predicted was $41 billion but it could only reach $39.5 billion.
Google’s CFO mentioned how the modest growth had to do with hard comparisons made to a quarter where the company struggled big time. Remember, this would be leading on to the fourth quarter.
In the same way, Google was seen pulling back its advertising in the world of loans, crypto, and also mortgages. But then there was a discussion on the new product offerings by the company. This included the launch of a few things that we’ve highlighted for you below.
For starters, there was a new expansion in the world of MultiSearch where users can utilize their mobile cameras to look for pictures powered through Google Lens. In addition to that, they may add text queries at the top of image searches. Next up, Google would be utilizing pictures and text to put forward results.
Then a refinement in terms of the search was carried out. Google would be allowing users to create queries on the run through query builders. All you need to do is press words.
Similarly, the company is working on an expansion of visual details. No matter what your query may be, the company would be showcasing different visual tales and short clips.
Those searching for more options in the world of shopping can simply carry out searches with the word SHOP and add a product after that. You can even shop in 3D to provide merchants with more access to details.
Users were promised a bigger and better purchasing guide and also more personalized results.
The company CEO has made it very clear what Google’s current vision is. And that entails a bigger and sharpened focus on various business priorities. They’ve noticed great changes in the product announcements for both the Search and the Cloud. There are even more ways to make money through YouTube’s Shorts.
They are very keen on making investments in a subtle and responsible manner, keeping in mind the current economic situation.
But are advertisers the real ones to blame or not? Well, the firm says it's pulling back on budgets belonging to them and has gone about blaming the current economic situation and fluctuating interest rates and inflation.
They say it's the advertisers that are the ones pulling back and that just makes other things weaker out there. As a whole, the total revenue was $69.1 billion and that’s a 6% rise.
So as a whole, it’s a slow growth picture and a clear warning to others about big cuts in budget and raised CPCs in the future.
We are not sure what the future holds but the search engine giant says it has to more focus on Google Shorts and placing CTV. And that means they’re hinting at what could come next.
Remember, the festive season is just around the corner so we should see plenty of growth during that time.
Photo: Reuters
Read next: Yelp’s Report Shows Inflation Becoming a Greater Concern
The report was for the likes of Search, Ads, and even YouTube. Moreover, it was a huge disappointment in general and we’re breaking it down for you below.
The Q3 earnings showed a decline for YouTube which was almost down by 2%. To help better understand that frame of mind, analysts had predicted growth of nearly 3% but this has to be the first-ever loss since the company began its reporting.
While the company’s Search ads had grown by 4%, the revenue predicted was $41 billion but it could only reach $39.5 billion.
Google’s CFO mentioned how the modest growth had to do with hard comparisons made to a quarter where the company struggled big time. Remember, this would be leading on to the fourth quarter.
In the same way, Google was seen pulling back its advertising in the world of loans, crypto, and also mortgages. But then there was a discussion on the new product offerings by the company. This included the launch of a few things that we’ve highlighted for you below.
For starters, there was a new expansion in the world of MultiSearch where users can utilize their mobile cameras to look for pictures powered through Google Lens. In addition to that, they may add text queries at the top of image searches. Next up, Google would be utilizing pictures and text to put forward results.
Then a refinement in terms of the search was carried out. Google would be allowing users to create queries on the run through query builders. All you need to do is press words.
Similarly, the company is working on an expansion of visual details. No matter what your query may be, the company would be showcasing different visual tales and short clips.
Those searching for more options in the world of shopping can simply carry out searches with the word SHOP and add a product after that. You can even shop in 3D to provide merchants with more access to details.
Users were promised a bigger and better purchasing guide and also more personalized results.
The company CEO has made it very clear what Google’s current vision is. And that entails a bigger and sharpened focus on various business priorities. They’ve noticed great changes in the product announcements for both the Search and the Cloud. There are even more ways to make money through YouTube’s Shorts.
They are very keen on making investments in a subtle and responsible manner, keeping in mind the current economic situation.
But are advertisers the real ones to blame or not? Well, the firm says it's pulling back on budgets belonging to them and has gone about blaming the current economic situation and fluctuating interest rates and inflation.
They say it's the advertisers that are the ones pulling back and that just makes other things weaker out there. As a whole, the total revenue was $69.1 billion and that’s a 6% rise.
So as a whole, it’s a slow growth picture and a clear warning to others about big cuts in budget and raised CPCs in the future.
We are not sure what the future holds but the search engine giant says it has to more focus on Google Shorts and placing CTV. And that means they’re hinting at what could come next.
Remember, the festive season is just around the corner so we should see plenty of growth during that time.
Read next: Yelp’s Report Shows Inflation Becoming a Greater Concern
