As tech giants 'optimize' workforces, world optimizes amount of money it spends on computing services
Google also posted its results. Overall, Alphabet, which owns Google's search and cloud businesses, disappointed the markets with its fourth quarter revenue of $75.32 billion, up just one percent year-on-year. It reported $59 billion in advertising revenue, a decrease of 3.6 percent from the same period in 2021.
Cloud revenue reached $7.3 billion, up 32 percent, which again marked a slowdown of growth in recent years of 50+ percent. Operating losses for the unit, however, narrowed to $480 million from $890 million.the 12,000 job losses it announced last monthGoogle has high hopes for its data engineering, analytics and AI projects, including DeepMind, the UK-founded business which celebrated achievements in the board game Go and protein folding.
"To reflect the increasing DeepMind collaboration with Google Services, Google Cloud and Other Bets, beginning in the first quarter, DeepMind will no longer be reported in Other Bets and will be reported as part of Alphabet's corporate costs," said Alphabet chief financial officer Ruth Porat during an investor call. ®
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