About: http://data.cimple.eu/news-article/44e94687a09a39a8b16761be7fbca7a10defd3e07938c1603dfba6b7

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rdf:type	schema:NewsArticle
schema:articleBody	Google parent Alphabet reported a rare drop in revenue and profit on Thursday in a quarterly update that nonetheless topped market expectations. Profit slumped some 30 percent to $6.96 billion from a year for the online giant that relies on digital advertising for most of its income. Revenues dipped two percent to $38 billion, as chief financial officer Ruth Porat said; "We continue to navigate through a difficult global economic environment." Google shares were little changed in after-market trading following the release. Revenue regained ground in the second quarter in search and at video-sharing platform YouTube, showing signs of stabilization by the end, according to Google executives. "Although we are pleased that ad revenue gradually improved throughout the quarter, we do believe it's premature to say that we are out of the woods," Porat said during an earnings call. She stressed that online ad revenue is related to the overall economic environment, which she saw as "fragile." As people hunkered down at home due to the pandemic, Alphabet saw growth in demand for entertainment content at YouTube and its online Play shop as well for cloud services being relied on increasingly for learning, work and online commerce. While Google ad revenues were down in the second quarter, the business beat expectations, according to eMarketer principal analyst Nicole Perrin. "We expected April to be the bottom of the digital ad market, with a return to growth in May and June, and these results suggest that acceleration was stronger than expected." gc/rl
schema:headline	Google parent Alphabet profit dives as virus hits ad market
schema:mentions	Digital media Cloud computing Acceleration Computer virus Chief financial officer YouTube Google Pandemic Porat Ruth Porat EMarketer
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-07-30 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	79 (xsd:integer)

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