Two of the biggest US tech firms saw lower profits in the latest quarter amid signs the world's biggest economy is slowing down. Google's holding company, Alphabet, and Apple announced their earnings for the October-December period on Thursday.
Alphabet's revenue edged up 0.95 percent to 76 billion dollars. Its net income tumbled 33.9 percent from a year earlier to 13.6 billion dollars.
Lower advertising revenue on Google's video-sharing site YouTube was seen as a main factor behind the lackluster results. Some businesses cut their advertising budgets as they worried about the future course of the economy.
Apple recorded a drop in both key figures. Revenue fell 5.4 percent from the same quarter last year to 117.1 billion dollars.
Its net income was down 13.3 percent to 29.9 billion dollars.
The company said a "challenging macroeconomic environment" was behind the decline.
It also said coronavirus measures in China affected production of the latest iPhone models.
Alphabet's revenue edged up 0.95 percent to 76 billion dollars. Its net income tumbled 33.9 percent from a year earlier to 13.6 billion dollars.
Lower advertising revenue on Google's video-sharing site YouTube was seen as a main factor behind the lackluster results. Some businesses cut their advertising budgets as they worried about the future course of the economy.
Apple recorded a drop in both key figures. Revenue fell 5.4 percent from the same quarter last year to 117.1 billion dollars.
Its net income was down 13.3 percent to 29.9 billion dollars.
The company said a "challenging macroeconomic environment" was behind the decline.
It also said coronavirus measures in China affected production of the latest iPhone models.
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Summary
US tech giants Alphabet and Apple reported lower profits for Q4 amid economic slowdown signs. Alphabet's revenue increased slightly to $76B, but net income dropped 33.9%. Lower ad revenue on YouTube was a main concern. Apple saw a 5.4% revenue decline to $117.1B and a 13.3% drop in net income to
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ID: c91ed5d3-eb42-40d6-b33c-64e98ec1be35
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20230203_15/
Date: Feb. 3, 2023
Created: 2023/02/03 18:59
Updated: 2025/12/09 07:55
Last Read: 2023/02/03 20:05