Analysts repeatedly asked for more details, to the point where one said he was beating a ‘dead horse’ ‘
Alphabet Inc. tumbled the most in almost seven years after first-quarter revenue missed analysts’ estimates and sparked fears that advertisers are shifting some spending to digital rivals away from Google.
Revenue from Google advertising rose 15 per cent, the slowest pace since 2015. That was a stark contrast to scandal-plagued Facebook Inc., which last week reported a 26 per cent jump in ad sales. In an interview with Bloomberg TV, Porat shrugged off Amazon’s foray into advertising and said there’s still lots of room for growth for all digital ad companies because so much marketing money is still spent offline.
Porat blamed that on YouTube, where clicks on ads didn’t grow as quickly in the first quarter, especially compared to a strong showing during the same period last year. The slowdown was caused by changes YouTube made last year to improve the experience for users and advertisers, she said on the conference call. Porat did not detail what those changes were.
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