Bear market: even for Google, it’s crypto winter

rich problem – Approach between ERROR AND crypts verified every day a little more, if it is the ambitions of Facebook – Meta – in the metaverse, from Apple to NFT and of course from Google in various projects related to blockchain. And when the market crypto cough in the winter, the giants of Silicon Valley are also coughing. Q3 financial results season is upon us and this is how we learn itAlphabetGoogle’s parent company – records a dwindle of its growth. Yes, you read that right, when the Californian colossus has money worries, it’s because his growth income slow down. Everyone has their problems!

Slowing growth at Google

In the end of this monthOctober, the results of the third quarter of American companies are the subject of special attention from the financial markets. Looking for the smallest sign of good or worse, observers are waiting for these FigureS impatiently, but also anxiously when the situation is complicated. Exactly in this contextAlphabet released earnings for the third quarter – as the Americans say – and they are not good.

So, of course, we have to put things into perspective. The company records, in fact, an increase in its income simply 6% compared to the same period last year, which is still the worst result since then 2013. The revenues recorded this quarter are 69.1 billion against 65.1 last year. And compared to the second quarter of this year, we also notice a decrease in the order of 500 million dollars. Therefore there is a clear slowdown and crypts they are not there for nothing.

Google’s financial results slow this quarter and cryptos are singled out

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Crypto and finance, less and less advertising for the sector

Invited to comment on the results of his company in MEDIA specialists, Google’s commercial director, Phillip Shindle wanted to contextualize these figures:

“We’ve seen a drop in spending by some advertisers in certain search areas. And, especially a decline in the subcategories of insurance, loans, mortgages and crypto. »

Because yes, you got it, it’s me advertisements that Google generates most of it income. And the platform as to YouTubeowned by Alphabet – have lost customers in the cryptocurrency sector. Observers agree that the drastic drop in bitcoin price and cryptos coupled with a large INSECURITY the macroeconomic reason for companies to seriously cut their budgets advertisements. And soAlphabet pays the price after all of this change in the economic paradigm.

Should we be worried about the Mountain View giant? Undoubtedly, the share price fell 7.5% a day after publication, but for all this Alphabet explicitly has kidneys strong enough to withstand this nasty stain. Regarding the sector cryptocurrenciesThe decline in advertising spending is probably only temporary and there is no doubt about that Google will happily ride the market recovery when it picks up again. Meanwhile, he multiplies his incursions into blockchainsometimes with bitcoin payments considered and sometimes with Ethereum under the microscope its search engine.

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