Alphabet revenue dropped in Q2 2020, the first decline since going public

• Google parent Alphabet’s quarterly sales fell for the first time in its 16 years as a public company

• Shares of Alphabet fell 1.2% to $1,518.85 after it released the second-quarter results

• Alphabet’s overall 2nd-quarter revenue was $38.3 billion, down 2% from the year-ago period

• About 66% of Alphabet’s revenue came from Google search and YouTube ads, 12% from ads sold on partner properties online, 8% from its cloud business and 14% from its mobile app store and about a dozen other smaller businesses

• Alphabet’s quarterly profit was $6.96 billion, or $10.13 per share

Source: VentureBeat

Parth Chhaparwal

Incoming Associate Consultant at Bain & Co.