The company’s profits are lower for another quarter. | Illustration by Alex Castro / The Verge
Profits are down at Google parent company Alphabet for the second quarter in a row, even as it brings in more money. Alphabet brought in around $16 billion in profit during its second quarter of 2022, down from $18.5 billion during the same period last year, the company reported in its Q2 2022 earnings report this afternoon.
As with last quarter, it seems like rising expenses have played a part; the company actually brought in more revenue than it did in Q2 2021. This quarter, its revenues were almost $69.7 billion, up from last year’s $61.9 billion. However, compared to this time in 2021, Google’s spending around $3 billion more on both research and development and sales and marketing.