Google’s parent company Alphabet has been facing down at profits for the second quarter in a row, even it would bring in more money. During the second quarter of 2022, Alphabet brought in around $16 billion in profit, however it was down from $18.5 billion throughout the same period of time last year, the company had reported the data in its Q2 2022 earnings as reported this afternoon.

HIGHLIGHTS
Alphabet has been facing down at profits for the second quarter in a row
The revenues were nearly $69.7 billion in 2022 than last year’s $61.9 billion
Google put a pause on the hiring process for two weeks, to review their headcount

In the last quarter it seems like there has been a rise in the expenses, the company had actually brought in additional revenue than it did in Q2 2021. This quarter, the revenues were nearly $69.7 billion which was higher from last year’s $61.9 billion. However, compared to the current time in 2021, Google had spent around $3 billion extra on both research and development and sales and marketing.

The way Google made money, the breakdown is similar to last year. “Google Search & other” ads are considered as Google’s bread and butter which almost bring in nearly $40.7 billion. $6.2 billion in revenue has been made by Google’s Cloud business. YouTube advertising has helped the company to make around $7.3 billion. Well, that was just the substantial sum, Variety reports that it has represented the slowest growth for the video platform that Google had seen in over two years.

During the last month, Google has warned its employees that the times in future could get tough. Google CEO Sundar Pichai has send a memo warning during the early days of July, stating that the company’s “not immune to economic headwinds” and mentioned that the company would “need to be more entrepreneurial, operating with bigger urgency, sharper focus, and a lot of hunger than we had shown on sunnier days.” Just after a week, the company had mentioned its employees that they were putting a pause button on the hiring process for two weeks. It has even mentioned that it would use this time to “review our headcount.”

Well, Google ended Q2 2021 with 144,056 employees but by Q2 2022 the number of employees got hiked up to 174,014.

Also Read: Alphabet, the parent company of Google, is eyeing a $2 trillion valuation.