(San Francisco) Alphabet, parent company of Google and YouTube, disappointed on Thursday with revenue down slightly to $76 billion in the fourth quarter of 2022, as the tech giants seem to be entering the era of frugality after laying off thousands of people.
Its net profit came in below analysts’ forecasts at $13.6 billion, down from $20.6 billion last year, according to its earnings release. The title of the world number one in online advertising lost more than 4% during electronic trading after the close of trading.