Alphabet, the American multinational technology conglomerate and parent company of Google, couldn’t meet its revenue and earnings goal from digital advertising and Google Cloud in the second quarter of 2022. Alphabet’s revenue growth slowed down to 13% in the Q2 from 62% a year earlier. Last year, major revenue growth factors included surging consumer spending and the post-pandemic reopenings of stores. According to the Refinitive, the company had a revenue per share (RPS) of $1.21 vs the $1.28 expected. Revenue was $69.69 billion vs $69.9 billion expected, and YouTube advertising revenue was $7.34 billion vs $7.52 billion expected, as per StreetAccount. StreetAccount also shared that Google Cloud revenue was $6.28 billion vs $6.41 billion expected. Traffic acquisition costs (TAC) were $12.21 billion vs $12.41 billion expected.

Full story: CNBC