Alphabet, Google’s parent company, reported an increase in revenue for the first three months of the year, but said the coronavirus pandemic was starting to impact its business.
Revenue for the first quarter was up 13% year-on-year to $41.2 billion at the parent company.
Google Search and others reported US$24.6 billion, while YouTube advertising reported $4 billion dollars.
However, the tech giant said while the year started strong, advertising revenue began to slow in March, when the coronavirus pandemic began to hit businesses around the globe.
“Performance was strong during the first two months of the quarter, but then in March we experienced a significant slowdown in ad revenues,” says Ruth Porat, CFO of Alphabet and Google.
“We are sharpening our focus on executing more efficiently, while continuing to invest in our long-term opportunities.”
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