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Alphabet misses on revenue as YouTube ad business slowed by Ukraine war

The war in Ukraine that began during the quarter had an "outsized impact" on YouTube revenue because the company stopped ad sales in Russia and brand advertisers, particularly in Europe, pulled back on spending, Alphabet Chief Financial Officer Ruth Porat told analysts.

April 27, 2022 / 08:26 AM IST

Google parent Alphabet Inc on Tuesday reported first-quarter revenue below expectations as YouTube sharply missed Wall Street targets and ad sales overall were pressured by the war in Ukraine and supply-chain and inflation concerns.

The war in Ukraine that began during the quarter had an "outsized impact" on YouTube revenue because the company stopped ad sales in Russia and brand advertisers, particularly in Europe, pulled back on spending, Alphabet Chief Financial Officer Ruth Porat told analysts.

She also reported moderating growth in sales to direct-response advertisers on YouTube, and she added that cuts to app store fees to address competition concerns had wiped out gains in subscription revenue.

The world's largest provider of search and video ads has been a big winner of the shift to online commerce over the past two years, but the war and the latest economic phase of the pandemic are delivering new challenges.