2 Reasons Why Google Is Slipping Behind Facebook
Last Thursday, Facebook (NASDAQ: FB), Apple, and Amazon all delivered blowout second-quarter earnings reports, speeding past estimates. Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) was the odd tech titan out, however, sliding 3% the next day as its peers soared.
Alphabet was the only one of the bunch to post declining revenue, which dropped 2%, while sales in its core search business fell 10%. On the bottom line, earnings per share dipped from $14.21 in the quarter a year ago to $10.13.
Advertising has been weak across the board as marketers have pulled back on spending during the lockdown period, and have only gradually increased ad budgets as the economy has reopened. However, Facebook, Google's closest rival, fared much better in the second quarter, with revenue increasing 11% on 10% growth in its core advertising business.
Source Fool.com
