Google Search Revenue Grew 17% Last Quarter, Down From 19%. It's the First Slowdown in a Year.
Investors spent the week arguing about capital spending. The more interesting number was sitting in the segment table.
Overview
AI is supposed to help businesses accelerate. But Google search just grew slower than the quarter before. And -- judging by the headlines about the earnings report -- almost nobody noticed.
Alphabet's (NASDAQ: GOOG)(NASDAQ: GOOGL) second-quarter report this week buried the figure under two louder storylines -- a $99 billion paper gain on its equity stakes, and another increase in capital spending plans, to a range topping out at $205 billion this year. The market reacted to the spending, sending shares down about 7% on Thursday.
Details
But I'd argue the Search number deserves more attention than either. Google Search & other revenue, the biggest single line in Alphabet's business, grew 17% year over year to $63.3 billion. In the first quarter, it grew 19%.
Source
Originally published at www.fool.com.