Google profits plummet 27 percent in Q3 2022 earnings report
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Google profits plummet 27 percent in Q3 2022 earnings report
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Re: Google profits plummet 27 percent in Q3 2022 earnings report
#2This seems like a bit of a non-story in some ways. Their revenue was up slightly YOY, and after that crazy huge quarter and the economic slow down this seems like a non-deal.
Re: Google profits plummet 27 percent in Q3 2022 earnings report
#3I got an email from YouTube about how "we are creating more value" and I had a gut feeling their quarter was going to be trash.
"We are creating value" is code word for "we're increasing the price of the service, and showing you a bunch of stuff you don't use".
Guess the ad-sense money button broke and now they have to try and milk other services.
Re: Google profits plummet 27 percent in Q3 2022 earnings report
#4Discussion from yesterday: https://news.ycombinator.com/item?id=33335415
Re: Google profits plummet 27 percent in Q3 2022 earnings report
#5Google doesn't seem anti-fragile to me. They have always seemed every bit as vulnerable as Meta, but with a few extra (yet weak) plates of armor due to an unfair ecosystem they've created to funnel you into Adsense. An ecosystem that many legislators and the DOJ think violates antitrust, and that the EU and other countries are already ruling against.
If Apple begins blocking their trackers (see Google's recent worldwide Chrome ad campaigns - a campaign that likely sees the writing on the wall), they lose all Apple revenue.
If 10B market cap companies begin to campaign for antitrust, and Microsoft negotiates for Bing on Apple, Samsung, and Firefox, Google will lose everywhere else.
I honestly don't even see why Microsoft couldn't play equally dirty and revert Chrome's default search engine on Windows to Bing. It's an equally dirty move to the stuff Google has done.
Google could have a strong cloud product, but they're in distant third and aren't investing enough to take away AWS/Azure market share. Their culture of launching products for promo, launching competing products (eg messengers), and then killing them has severely damaged their reputation.
Re: Google profits plummet 27 percent in Q3 2022 earnings report
#6I got an email from YouTube about how "we are creating more value" and I had a gut feeling their quarter was going to be trash. "We are creating value" is code word for "we're increasing the price of the service, and showing you a bunch of stuff you don't use". Guess the ad-sense money button broke and now they have to try and milk other services.
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Re: Google profits plummet 27 percent in Q3 2022 earnings report
#7Meta / Facebook is also down to $129 from a high of $387. That’s a staggering loss. FB is still in a strong position (to put it mildly), but it’s interesting to see this play out.
Re: Google profits plummet 27 percent in Q3 2022 earnings report
#8Google doesn't seem anti-fragile to me. They have always seemed every bit as vulnerable as Meta, but with a few extra (yet weak) plates of armor due to an unfair ecosystem they've created to funnel you into Adsense. An ecosystem that many legislators and the DOJ think violates antitrust, and that the EU and other countries are already ruling against. If Apple begins blocking their trackers (see Google's recent worldw…
They can surely do that but Google search does provide value. Even my mother noticed poor results when her search changed to some random bing-powered one.
Also, Google has Android ie. largest OS in terms of user-base.
Re: Google profits plummet 27 percent in Q3 2022 earnings report
#9This seems like a bit of a non-story in some ways. Their revenue was up slightly YOY, and after that crazy huge quarter and the economic slow down this seems like a non-deal.
It doesn't mean the sky is falling, but may indicate a shift in attitude within Google as their costs grow faster than their revenues.
Given that Google dominates email, search, browsers, phones, creator video, and a laundry list more things... it's definitely indicative of a story.
Re: Google profits plummet 27 percent in Q3 2022 earnings report
#10Meta / Facebook is also down to $129 from a high of $387. That’s a staggering loss. FB is still in a strong position (to put it mildly), but it’s interesting to see this play out.
Facebook is strategically no different than myspace a decade or two ago. When the cool kids go somewhere else, it becomes clear that the platform itself was nothing special.
Edit: I was downvoted, but I stand by what I wrote. Google has Android and (for now) superior search results. Netflix has content (including their own, not just other people's). Apple has their devices, which are killing it right now. These companies will be okay. It is Facebook that might not exist in 5 years. What do they actually have other than fickle network effects that can be here today and gone tomorrow? VR? That won't save them.