> In the last quarter Alphabet reported "total revenues of $76.69bn, an increase of 11 percent year-on-year (YoY)."
You’ve got to (a) zoom out and look at trend, (b) focus on profit, not revenue, and (c) look at forecast (future, not past).
Alphabet net income for the twelve months ending September 30, 2023 was $66.732B, a 0.39% decline year-over-year. Their annual net income for 2022 was $59.972B, a 21.12% decline from 2021. And their annual net income for 2021 was $76.033B, a 88.81% increase from 2020.
If you believe that companies should grow, then a trend of rapidly decreasing profits is very worrisome and that you need to turn around.
yeah, and google cloud is hiring. They're winding down teams in non profitable areas.
I wish they were a little more strategic, but this time they are allowing affected team members to keep corporate access and apply internally to open roles.
Google Cloud alone grew 22%.
https://erp.today/storm-clouds-for-google-as-q3-misses-analy...