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YouTube Q4 Ad Sales Rise 15% As Parent Alphabet Sees AI Investment, Severance Payouts
Google parent Alphabet reported decent numbers for the fourth quarter of 2023, including a 15.5% hike in YouTube advertising to $9.2 billion (from $7.8 billion), solid but disappointing the market…
Getty Google parent Alphabet reported decent numbers for the fourth quarter of 2023, including a 15.5% hike in YouTube advertising to $9.2 billion (from $7.8 billion), solid but disappointing the market a bit with shares down 4%. CFO Ruth Porat said, “We ended 2023 with very strong fourth quarter financial results…We remain committed to our work to durably re-engineer our cost base as we invest to support our growth opportunities.” A wave in January of 2023 resulted in employee severance and related charges of $2.1 billion for the year.
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