Google’s revenue growth during the past quarter decelerated to its slowest pace in two years as advertisers reined in their spending amid intensifying fears of an economic recession.
The regression reported Tuesday by Google’s corporate parent, Alphabet, is the latest sign that the tailwinds propelling big technology companies during the pandemic have shifted. The array of new challenges facing the industry have already caused the tech-driven Nasdaq composite index to plummet by 26% so far this year.
In Alphabet’s case, revenue during the April-June period totaled $69.7 billion, a 13% increase from the same time last year.
