Alphabet reported revenue growth of 26% year-on-year for the first quarter, at constant currencies, to just over 68 billion US dollars. The top line was held back by a relatively weak performance by YouTube, which saw advertising revenues rise by just 14% on a reported basis, after growing 25% in the previous quarter. The company said that direct response advertising on YouTube saw only "modest" growth.
Amid concerns about competition from Tik Tok, Sundar Pichai, CEO of Alphabet and Google, said: "YouTube Shorts is now averaging over 30 billion daily views -- that’s four times as much as a year ago. ... On average, viewers are watching over seven hundred million hours of YouTube content on televisions every day. And in the year ahead, we’ll give YouTube’s Connected TV viewers new smartphone-controlled navigation and interactivity features, allowing people to comment and share content they’re watching on television directly from their devices." Sources: Alphabet statements