Google's Advertising Business Feels the Heat

Alphabet, Google's parent company, said its revenues rose 6% year-on-year on a constant currency basis in the first quarter of 2023 to 69.8 billion US dollars. Strong growth in its cloud business offset declines in Google Network advertising and YouTube ad revenues. The Google Network, which includes revenues generated on Google Network properties participating in AdMob, AdSense, and Google Ad Manager, had a particularly weak quarter with revenues declining more than 8% source: Alphabet statement