Google set to take a hit as travel websites slash online ad spending [CNBC]
Alphabet Inc. - Class C Capital Stock (GOOG)
Last alphabet inc. - class c capital stock earnings: 4/28 04:02 pm
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Source: CNBC
WhenAlphabetBooking HoldingsExpediaBarry Dillerless than $1 billionsuspended marketingIn a note to clients on April 26, Stifel analysts said they expect "near-term economic impacts" at Alphabet, highlighting Google and YouTube's "particular exposure to travel, media & entertainment, retail, finance, and, automotive verticals." The firm said search spending on travel is down by 50% from before the pandemic struck.Although it has many experimental and new businesses that generate publicity, Alphabet is overwhelmingly dependent on advertising for actual revenue. Google is the only financially material company under the Alphabet umbrella, generating more than 99% of its revenue last year, while the other Alphabet companies, like Verily (health tech) and Waymo (self-driving cars) are long-term investments. Within Google itself, 84% of its revenue last year came from advertising, with the remainder from cloud computing, hardware and other businesses.Now, Google's dominant ad business is fac
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