Alphabet Inc () (), Google’s parent company reported its earnings for the second quarter of the fiscal year 2020 today. During the period, the company has earned $38.9 billion in revenue, marking for a 2% year-over-year drop. Despite the decrease, which is the first for the company in its history, Alphabet nevertheless managed to beat […]
Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL), Google’s parent company reported its earnings for the second quarter of the fiscal year 2020 today. During the period, the company has earned $38.9 billion in revenue, marking for a 2% year-over-year drop. Despite the decrease, which is the first for the company in its history, Alphabet nevertheless managed to beat analyst estimates for revenue and earnings per share.
The company’s operating income dropped significantly year-over-year during the quarter as it experienced blooming operating costs in a time when consumer spending has been hit hard by the coronavirus pandemic. Today’s results come a day after Google’s chief executive officer Mr. Sundar Pichai appeared before American lawmakers to explain accusations of anti-competitive behavior that have been levied against his company.
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In addition to having decreased year-over-year, Alphabet’s revenues have also dropped sequentially, as the company earned $41 billion during the previous quarter.
