Good morning: Alphabet, the owner of Google, fell short of Wall Street’s expectations as advertisers reconsidered spending amid surging inflation, sustained supply disruption and Russia’s invasion of Ukraine. Revenues at the group rose by 23 per cent to $68 billion in the first quarter, lower than forecast and a marked deceleration from growth of 34 per cent in the same period last year. Net income fell by more than 8 per cent to $16.4 billion. SponsoredAdvertising sales on YouTube rose by 14 per cent to $6.87 billion, short of the $7.51 billion projected by analysts, as it faces heightened competition from fast-growing platforms such as TikTok. Shares in Alphabet, which had already fallen 18 per cent since the turn of the year, fell 5.6

Source: The Times April 27, 2022 18:31 UTC