Profits at Alphabet fell $1.5bn in the first quarter from last year as weak results at its YouTube division underlined slowing momentum in online advertising.
YouTube revenues rose 14 per cent to $6.9bn, below the $7.5bn expected by analysts polled by Refinitiv, although Alphabet chief executive Sundar Pichai said YouTube’s more than 2bn monthly users are spending more time on the platform “even as people have returned to in-person activities”.
Alphabet finance chief Ruth Porat said the deceleration of YouTube revenues was partly a result of Russia’s invasion of Ukraine, which had ripple effects across Europe.
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