Google parent Alphabet postedfirst-quarter earningsthat missed analyst expectations as the search giant’s revenue came in softer than anticipated.
Earnings per share totaled $24.62, below the $25.94 forecast.
Revenue for Google’s cloud rose more than 40% year over year to $5.82 billion.
Losses at the unit narrowed.
Still, advertising drives Google’s earnings.
A softening global economy likely weakened the advertising market, weighing on overall revenue.
The company also spent on sales and marketing.
Executives pointed analysts to YouTube Shorts, a TikTok competitor that launched last year.
CEO Sundar Pichai said YouTube shorts were generating 30 billion daily views.
The company is encouraging creators to make videos for the platform with a $100 million fund.
Google,along with many companies, pulled out of Russia after its invasion of neighboring Ukraine.
Porat said about 1% of Google’s revenue came from Russia last year.
