Alphabet, the parent company of Google and YouTube, on Thursday disappointed with slightly lower revenue of $76 billion in the fourth quarter of 2022, as the tech giants appeared to be entering an era of caution after laying off thousands of people, AFP reported. .
Its net income came in below analysts’ expectations of $13.6 billion from $20.6 billion a year earlier.
Shares of the world’s largest online advertising company fell more than 4 percent in after-hours trading.
Amazon exceeds expectations
Amazon on Thursday reported revenue of $149.2 billion in the fourth quarter of 2022, beating forecasts and market expectations amid inflationary pressures on consumer spending.
But the online commerce giant made a cautious forecast for the current quarter. Its shares fell more than 4 percent on Wall Street.
Source: Hot News
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