The video platform has focused more resources on Shorts, which executives say now averages more than 30 billion daily views.
brought in $6.86 billion in ad revenue during the first quarter as the service experiences a slowdown in growth, falling below Wall Street expectations of $7.4 billion and representing a 14 percent year-over-year increase.
The video streaming platform previously saw major growth last year during the pandemic, when it brought in $28.8 billion in advertising revenue and saw ayear-over-year increase in revenue during the first quarter of 2021. In a call with analysts, Alphabet CFO Ruth Porat noted that YouTube saw a “pullback in advertiser spend” in Europe in light of the war in Ukraine that had an “outsized impact” on the platform’s revenue.
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