By Thomas Hobbs
For the three months to the end of March, Alphabet’s revenues rose to $20.26bn – up from $17.26bn a year before. This, however, fell short of expectations of around $20.4bn, with Alphabet’s share price falling 6% in after-hours trading as a result. This equates to a $32bn drop in market value.
It wasn’t all bad news for the Google and YouTube owner. Alphabet’s advertising revenue jumped 16.2% in the first quarter to $18.02bn, with its number of ads, also known as paid clicks, jumping 29%. But the average price of online ads, known as cost-per-click, fell 9% in the quarter.
Source: Marketing Week
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