Google Parent Suffers 1Q Growth Slowdown, Profit Decline – U.S. News & World Report

SAN RAMON, Calif. (AP) — Google’s corporate parent on Tuesday posted its slowest quarterly revenue growth since 2020, the latest sign that the huge gains enjoyed by technology companies during the pandemic are fading into the rear-view mirror.

For most companies, the numbers announced by Alphabet Inc. would be a cause for celebration. But tech companies are sized up differently, with investors typically measuring them by how much growth they deliver each quarter compared to the previous year.

Alphabet began this year with growth trends shifting dramatically downward. That already contributed to a 20% decline in its stock price since it peaked at about $3,030 in early February before a widespread sell-off in tech stocks. The shares shed another 6% in extended trading Tuesday after the latest quarterly numbers came out.

The concerns about slowing growth have become an even bigger worry amid rising interest rates aimed at tamping down the highest inflation rates in more than 40 years….

Read Full Story: https://www.usnews.com/news/business/articles/2022-04-26/google-parent-suffers-1q-growth-slowdown-profit-decline

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