Google's competition for advertising heats up from Amazon, rival platforms

02 May, 2019, 01:29 | Author: Manuel Hopkins
  • Google Advertising Revenue Growth Slows Triggering Share SlumpMore

The company's revenue also saw slowing growth in the quarter after it rose 21.6% YoY (year-over-year) in the fourth quarter of 2018. Profit amounted to $11.90 per share, well above Wall Street estimates of $10.60.

"The market may be punishing Alphabet just a little harshly when you consider the impact of FX headwinds in these numbers", said Neil Wilson, chief market analyst for Markets.com.

Google's cost-per-click, which is how much it makes off each advertising click, decreased 19% year over year and increased 5% quarter over quarter.

The company reported a net income of US$6.66 billion, or $9.50 per Class A and B common share and Class C capital share in the three months ended March 31, from US$9.40 billion, or US$13.33 per share, a year earlier.

That figure doesn't include an expected charge of $1.7 billion to account for a European Union antitrust fine. At one point, the company's market capitalization sank below $822 billion, a decline of roughly $75 billion, according to Dow Jones Market Data. The company also has interests in cloud computing, smartphones and self-driving cars.

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During a call with investors this week (transcribed by Seeking Alpha), Google CEO Sundar Pichai lightly addressed how the company is pitching that service to publishers and how conversations about bringing games onto what an investor describes as "an additional distribution outlet with billions of users" are going over. Google said revenue rose 25%, to $5.45 billion. Amazon and Microsoft are well ahead of Google in the cloud market.

Alphabet also reported widening losses in its "Other Bets" category - a broad segment that includes experimental ventures such as self-driving auto business Waymo and internet-balloon subsidiary Loon. That's a nice increase from the $26.6 billion from the same quarter a year ago.

Other bet operating loss: ($US868) million versus ($US571) million a year ago.

Analysts said the "lack of transparency" over the cause of the slowdown was frustrating for both them and investors.

Google is expected to unveil a raft of new hardware products and other services next week at its annual Google I/O conference for developers near its headquarters in Mountain View, California. Digital advertising through the Google search engine, Youtube video-sharing network and other platforms drive its profits. Along with Facebook, it commands the lion's share of digital advertising and possibly all of its growth in aggregate versus the other players.

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