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Google records slowest quarterly growth since 2015 as competition mounts

12 3 0
30.04.2019

Google has had a tough first quarter in 2019.


Its parent company Alphabet reported revenues of $36.3 billion for Q1, missing analyst estimates by over a $1 billion. Not only that, its revenue growth - 17 percent year-on-year - has been the slowest since 2015. Last year, Alphabet had grown its revenues by 26 percent this quarter.


Even though revenues climbed, quarterly profits dipped a significant 29 percent to $6.7 billion. The sluggish growth is a direct result of declining ad sales as Google faces competition from other quarters, namely Facebook and Amazon.


Quarterly growth was further impacted by the hefty anti-trust fine of $1.7 billion, which Alphabet had to pay the European Commission.


Shares tanked 7.3 percent........

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