August 17, 2022

What you need to know

  • Alphabet reported its Q2 2022 financial earnings on Tuesday.
  • The company reported a 13% year-over-year growth, a significant decrease from last year’s 62% growth during the same quarter.
  • Google recently announced that it was slowing down hiring for the remainder of the year with a temporary two-week pause.

Google’s parent company, Alphabet, announced its Q2 2022 financial earnings on Tuesday, reporting $69.69 billion in revenue. This is a 13% year-over-year growth compared to the same quarter in 2021, although a large decrease compared to the 62% growth witnessed in that quarter.

As a result of slowed growth, the company missed analyst expectations of $69.9 billion (via CNBC). YouTube, often a bright spot for the company, also missed analyst projections, bringing in $7.34 billion vs. an expected $7.52 billion.