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The Guardian - US
The Guardian - US
Technology
Kari Paul

Alphabet third quarter results fall as giant struggles to compete with TikTok

Alphabet
Report comes as tech sector makes departure from years of gain through the pandemic.
Report comes as tech sector makes departure from years of gain through the pandemic. Photograph: Justin Sullivan/Getty Images

Alphabet revenue fell below analysts’ expectations in the third quarter, it announced on Tuesday, as it continues to battle an industry-wide tech slowdown.

The company reported a third quarter revenue of $69bn, up 6% from last year but lower than analyst estimates of $70.9bn. Like many tech and social media firms, Alphabet is struggling to compete with TikTok amid a broader economic downturn.

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