Alphabet sales drop for first time on Google ad cutbacks in pandemic

OAKLAND./BENGALURU: Google parent Alphabet Inc’s quarterly sales fell for the first time in its 16 years as a public company, but the 2% slide was less than expected as many advertisers stuck with the world’s most popular online search engine during the pandemic.

Shares of Alphabet were about flat at $1,538.37 after it released the second-quarter results, above this year’s pre-pandemic high of about $1,525.

With its mostly free tools for web browsing, video watching and teleconferencing, Google has become a larger part of many consumers’ lives during the pandemic as lockdown orders force people to rely on the internet for work and entertainment.