- Alphabet missed revenue estimates while competitors like $FB and $AMZN beat targets in Q1 - Costs have surged faster than revenue for much of the past two years, concerning investors - $GOOG also faces increased scrutiny over privacy practices
- Alphabet Inc’s Google failed to reap the benefits of a strong economy that bolstered rivals in the first quarter, leaving the search giant’s revenue below Wall Street targets on Monday.
Major competitors for ad spending such as Facebook Inc, Snap Inc, Amazon.com Inc and Twitter Inc all reported last week quarterly revenue above or in line with analysts’ expectations. Expenses have surged faster than revenue for much of the past two years, concerning some investors amid increased scrutiny on the company’s privacy practices and efforts to restrict advertising on potentially offensive content.
Google’s 3 billion users help make it the world’s largest seller of internet ads, capturing nearly a third of all revenue, according to research firm EMarketer. Facebook is at about 20 percent. Still, the company has yet to tout significant revenue from its spending on ventures such as self-driving cars and its AI helper Google Assistant.
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