Google stock is having its worst day, since the shutdowns in March 2020. The reason is growth, which has been lower than ever before.
Google has been generating less advertising revenue; image: Instapage
Google has published the results of the 3rd business quarter yesterday. In the process, Google performed poorly. The annual growth was only 6%, a year earlier it was 41%. Net income is even worse. Compared to the previous year, the company has earned 26.5% less.
So Google isn't escaping the recession either. As with Snapchat, Google's justification is that companies are less willing to spend money on advertising due to rising interest rates worldwide. Meta publishes its report on Wednesday, October 26.
