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Google profits plummet 27 percent in Q3 2022 earnings report

arstechnica.com

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Re: Google profits plummet 27 percent in Q3 2022 earnings report

#31

Post by Kye »

ajross wrote: post #17
bwb wrote: post #2

This 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.

Pretty much. The level of "a-ha! this confirms all my priors!" logic in these threads is just deafening. Look everyone: economies are cyclic. We had a boom. Now we're in a downturn. It's happened before, many times. It will happen again. Nothing happening today is remotely as scary as what we saw in 2008, frankly isn't nearly as disruptive as the 2001 crash. Google will be fine. The tech industry will be fine. Buy th…

Forum commentators have predicted 100% of every collapse would be no big deal. 2008 wasn't just one thing: it was a cascade failure that progressed over the course of months. Nobody really knew how bad it was until we were down to the wire looking at a complete collapse of the financial system. Every downturn potentially breaks something big that was built on the assumption of infinite growth and had its tendrils into too many parts of the economy.

edit to add: we already see a drying up of ad spends. What happens in an economy built on selling ads, or selling services to people who sell ads when ads sales fail to meet expectations for too long? Everyone forgets data-driven advertising is what saved tech after the crash. Public opinion is rapidly turning against that savior.

Re: Google profits plummet 27 percent in Q3 2022 earnings report

#32

Post by hbn »

sschueller wrote: post #24

Yet they forced all Google workspace users that were grandfathered in free plans to start paying and are currently forcing grandfathered Google music (YouTube premium) family subscribers to eat a +50% price increase. Why would I stay with Google if my loyalty counts for nothing? Same goes for Netflix, if you aren't going to reward me being with you from day 1 why should I show you any loyalty? I will take full advant…

> Why would I stay with Google if my loyalty counts for nothing?

Sure, I'll go get my ad-free YouTube from the competition

Re: Google profits plummet 27 percent in Q3 2022 earnings report

#33

Post by jl6 »

pevey wrote: post #10
sillysaurusx wrote: post #7

Meta / 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 compa…

Maybe some other network will take over one day, but it doesn’t seem to be on the horizon, and until then Facebook’s network effect is a helluva moat.

Re: Google profits plummet 27 percent in Q3 2022 earnings report

#34

Post by izacus »

akmarinov wrote: post #21
asadlionpk wrote: post #8

Earlier quoted context omitted.

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.

Android is shit for monetization, you need 3x as many users to match iOS revenue from ads or subscriptions

No, Android is perfect for Googles monetization. This is why Apple wasn't able to fsck them like they did Meta.

Building their own platforms was a brilliant idea that made Google resilient against competition owning their Ad delivery platforms.

This has nothing to so with the side hobby that's Play Store.

Re: Google profits plummet 27 percent in Q3 2022 earnings report

#35

Post by moralestapia »

sillysaurusx wrote: post #7

Meta / 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.

350B evaporated from a single company in just under a year. Whew.

Re: Google profits plummet 27 percent in Q3 2022 earnings report

#36

Post by [deleted] »

robofanatic wrote: post #18
pevey wrote: post #10

Earlier quoted context omitted.

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 compa…

> What do they actually have other than fickle network effects They can acquire other companies, basically thats how they have survived for a longtime.

[deleted]

Re: Google profits plummet 27 percent in Q3 2022 earnings report

#37

Post by tonmoy »

adam_arthur wrote: post #11

Yet their headcount grew by double digits. Many tech companies living in fantasy land, having gotten used to free money and strong organic growth essentially guaranteed from secular tailwinds. At a certain scale, and level of competition (more and more social/advertising platforms becoming popular), these companies become more cyclical rather than guaranteed growth bets. Google is a great company that will surely be…

Or their profit plummeted because they grew their headcount

Re: Google profits plummet 27 percent in Q3 2022 earnings report

#38

Post by forgetfulness »

linza wrote: post #25
nikanj wrote: post #16

Earlier quoted context omitted.

Too bad they now have a reputation of killing every new product. Nobody wants to invest time into using their new shiny, because people assume it’ll be gone in a year or two

It's like to counter that Google's business customers and investors see these shut down stories likely in a different light: they stopped doing something that was a distraction from core business or irrelevant. Stadia was a powerful demonstration what Google is capable of, technology-wise.

So investors can count on Google to ax a product that's underperforming, but can't count on them to make competitive products, lasting brands or keeping loyal customers.

Re: Google profits plummet 27 percent in Q3 2022 earnings report

#39

Post by djbusby »

P_I_Staker wrote: post #14
pevey wrote: post #10

Earlier quoted context omitted.

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 compa…

I don't know if this is really true. That shift has occurred to some extent. On the other hand, it seems to me that all the most sociable people I know are still on Facebook. There definitely are a lot of people that interact with Facebook less, which is obviously huge. I'm not sure these other social media sites will eat up Facebooks core business. It seems like Facebook could continue to struggle to grow, but these…

Well, Reddit is increasingly user hostile and their mobile experience gets worse every quarter. They'll end up killing themselves before they can IPO.

Re: Google profits plummet 27 percent in Q3 2022 earnings report

#40

Post by 1-6 »

sschueller wrote: post #24

Yet they forced all Google workspace users that were grandfathered in free plans to start paying and are currently forcing grandfathered Google music (YouTube premium) family subscribers to eat a +50% price increase. Why would I stay with Google if my loyalty counts for nothing? Same goes for Netflix, if you aren't going to reward me being with you from day 1 why should I show you any loyalty? I will take full advant…

Just VPN to a country with a cheaper monthly. Use the Privacy app to get a new CC#. Get your Premium that way.
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