inflation: The poor results of the IT company Alphot Alphot, the IT company that runs the world’s leading search engine, has further increased the fear of recession. Alphabet and Microsoft have also increased the concern of the tech sector, as the poor results of IT company Alphot Alphot, the IT company that runs the world’s leading search engine, has increased the fear of recession.
The business of Google search advertising has decreased, after which there was a big fall in the shares of tech companies. After the disappointing results of Alphabet, the fear of a slowdown in the growth of the US economy has become stronger. It is being speculated that not only the general public but also IT companies are facing the brunt of inflation.
Let us tell you that in the third quarter of the year 2022, the company’s revenue grew by only six percent and it was $ 69.1 billion. Excluding the period of the Corona epidemic, Alphabet’s growth rate has grown at the slowest pace since 2013. Experts are predicting a growth rate of nine percent, but it has increased at the rate of only six percent. At the same time, Microsoft has also increased the concern of the tech sector. The biggest slowdown could be seen in its cloud business.
Income decreased by two percent
YouTube’s advertising revenue has decreased by two percent to $ 7.1 billion. Analysts were expecting it to grow at 4.4 percent. This is the biggest decline in the company’s ad sales since 2020. The negative effect of poor results of tech companies is starting to have a negative effect on jobs. Now their hiring process is also getting affected by the performance of companies. It has been said on behalf of Alphabet that it is going to cut its recruitment plan by more than 50 percent. In such a situation, there may be layoffs in many more companies in the coming time.