Google-owner Alphabet posted lower net income for fourth quarter 2022, and a smaller revenue increase, as the tech behemoth sees a decline in online ad spending, coming at a time when employee unions are criticizing the firm for firing thousands of workers.
California-based Google made $76.05 billion in revenues for the fourth quarter, up 1 percent from $75.33 billion during fourth quarter 2021, according to a earnings release on Feb. 2. Operating income fell to $18.16 billion, a 17 percent decline from $21.89 billion. Net income fell by 34 percent to $13.62 billion from $20.64 billion. Though total acquisition costs fell during this period, income from operations declined even more.
Total acquisition costs for fourth quarter 2022 were $12.93 billion, down 3.7 percent from $13.43 billion in fourth quarter 2021. Total income from operations during this period fell from $21.89 billion to $18.16 billion, a decline of 17 percent….