Alphabet Reports First-Ever Revenue Decline in Company History

It reported a 1.5% drop from the same time last year, but beat analyst expectations

Alphabet, the parent company of Google, reported revenues of $38.3 billion for the second quarter of 2020, a time marked by significant economic disruption due to the Covid-19 pandemic. As analysts expected, this was the first time in the company’s history that its revenues fell year over year.

Even with the relative decline, the company out-performed analyst predictions. The earnings report came one day after Sundar Pichai, the company’s CEO, was grilled about anticompetitive practices by Congress alongside the chief executives of Amazon, Apple and Facebook.

Total revenue was down 1.5%

AW+

WORK SMARTER - LEARN, GROW AND BE INSPIRED.

Spring Special

Save 30% Off an ADWEEK Subscription Today!

View Your Options

Already a member? Sign in