Alphabet Is Primed for Strong Revenue Growth Thanks to These Businesses
(NASDAQ: GOOGL)(NASDAQ: GOOG) enjoyed years of double-digit revenue growth, but through the first half of 2023, year-over-year revenue increased by only about 5% to $144.4 billion. Blame a slowdown in its advertising business for the decline in growth.
This, in turn, was a result of a deceleration in the broader ad industry, which is forecast to grow by only single digits in 2023 for the first time in 14 years. The uncertain economy of the past several months, caused by factors such as rising inflation, has contributed to the ad industry's woes.
Even so, Alphabet's stock soared in 2023 thanks in part to advances in artificial intelligence (AI) that the company introduced this year. But AI isn't Alphabet's only advantage. Two businesses within Alphabet are particularly well-positioned to enjoy rising revenue over the long term. Here's a look at both businesses.
Source Fool.com
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