Profits are down at Google mum or dad firm Alphabet for the second quarter in a row, even because it brings in extra money. Alphabet introduced in round $16 billion in revenue throughout its second quarter of 2022, down from $18.5 billion throughout the identical interval final 12 months, the corporate reported in its Q2 2022 earnings report this afternoon.

As with final quarter, it looks as if rising bills have performed an element; the corporate really introduced in additional income than it did in Q2 2021. This quarter, its revenues had been nearly $69.7 billion, up from final 12 months’s $61.9 billion. However, in comparison with this time in 2021, Google’s spending round $3 billion extra on each analysis and growth and gross sales and advertising and marketing.

During the previous month, Google has warned workers that occasions may very well be getting powerful. Early in July, Google CEO Sundar Pichai despatched a memo warning that the corporate’s “not immune to economic headwinds” and saying that the corporate would “need to be more entrepreneurial, working with greater urgency, sharper focus, and more hunger than we’ve shown on sunnier days.” Just over per week later, the corporate reportedly informed workers it was pausing hiring for 2 weeks, saying that it might use the time to “review our headcount.”

The earnings assist present some context for these strikes — Google ended Q2 2021 with 144,056 workers. By Q2 2022, that quantity had ballooned to 174,014.

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