Alphabet, the parent company of Google, published a financial report for the second quarter of 2022. The business line of Google's search engine has shown good results and has allowed IT giants to get closer to Wall Street analysts' projections. Against this background, Alphabet's shares showed growth of 5.5 per cent, as investors became convinced of the ability of the world's largest online salesman to cope with a global recession than many competitors.
Alphabet leaders, during an online meeting with investors, expressed cautious concerns by repeatedly using the words "uncertainty" and "unconfidence" to characterize the current economic situation. It was also said that sales of advertising on YouTube in the second quarter had grown at the slowest rate since the first statistical report of the platform was published in 2018.
Google clients around the world continue to favour online advertising in the company ' s search engine, as this marketing scheme targets people looking for goods, which brings higher profits. Tourism service providers and retailers have generated almost 14 per cent growth in the sales of Google ' s searchable online commercial in the second quarter, amounting to $40.69 billion. In total, Alphabet ' s income for a three-month period was $69.69 billion. Alphabet ' s profits in the second quarter declined to $16 billion or $1.21 per action, while analysts projected an income of $1.29 per action.