Google witnesses its first-ever revenue decline in History
Google, the leading tech tycoon has witnessed a revenue decline for the first time ever. The corona pandemic has taken a toll on every business and now Google is no exception in that.
Google’s parent company, Alphabet has seen a drop in their revenue but still crossed the expectations of Wall Street. The revenue has been recorded to be $38.3 Billion in this quarter beating what was expected which us $37.4 Billion. It accounts for a 2% decline from the last quarter.
The revenue of YouTube and Playstore have seen a considerable rise of 35 percent accounting to $5.12 Billion and Google Cloud with $3.01 billion. “Customers are choosing Google Cloud to either lower their costs by improving operating efficiency or to drive innovation,” said Sundar Pichai, CEO of Google.
He also said that when every business was affected by this pandemic and the economy became fragile, they saw the early signs of stabilization as users returned to commercial online activities.
Alphabet’s other ventures like Experimental X lab and Waymo self-driving have also seen a downfall in their revenue. It dropped from $162 million to $148 million.
