DIGITAL AD GROWTH IS FORCING GOOGLE'S HANDS
Google has dominated the online ad market for years, but its first semester earnings report suggests that competitors may be nibbling at its heels.
Investors shoved down the stock of Google's parent company, Alphabet, more than 7% in after-hours trading Monday after it reported revenue that fell short of analyst expectations. That dive could cut more than $65 billion from Alphabet's market value if it maintains when the markets open Tuesday Google's advertising revenue, its key income, grew by 15 percent to $30.7 billion - slower than investors had hoped. Its digital-ad rivals Facebook and Amazon, meanwhile, both reported strong earnings last week, adding to the investor surprise when Alphabet stumbled despite a solid economy.
Alphabet executives deflected concerns of rising competition on a conference call with analysts Monday.
https://www.dailyherald.com/article/20190430/news/304309996/
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