Online travel agencies have long been some of the biggest spenders on Google, but they're slashing budgets as consumers stay home.
In 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.
Now, Google's dominant ad business is facing its biggest test since the Great Recession. The stock has fallen 17% since closing at a record on Feb. 19, a steeper drop than the S&P 500 over that stretch and the biggest decline among the five most valuable U.S. tech companies. With consumers in many of the biggest U.S.
that, "We use Google to generate a significant portion of the traffic to our platforms, and, to a lesser extent, we use other search and meta-search services to generate traffic to our platforms, principally through pay-per-click marketing campaigns."
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Google, Facebook earnings will show coronavirus impact on ad industry - Business InsiderThe advertising industry is being ravaged by coronavirus. Google and Facebook are about to tell us exactly how much.
Read more »
Stock Your Pantry With Ingredients From Around the World, Care of Online Shops'Maybe you can’t bring yourself to do anything but refresh Twitter, and snacks count as meals now, and you’re dreaming about salami and cornichons but you can’t really justify stepping out for such luxuries (I’m not speaking from experience. Not at all)'
Read more »
Germany flips to Apple-Google approach on smartphone contact tracingGermany changed course on Sunday over which type of smartphone technology it wanted to use to trace coronavirus infections, backing an approach supported by Apple and Google along with a growing number of other European countries.
Read more »
K-pop boy band SuperM thrills fans as it performs concert online during coronavirus pandemicK-pop boy band SuperM thrills fans performing concert online during COVID pandemic; fans from 109 countries watch, recording 120 million hearts on social media.
Read more »
Undefeated, high schoolers head online for isolation promsNEW YORK (AP) — In party dresses or come as you are, with colored lights flashing in their bedrooms and teachers-turned-DJs spinning, high schoolers have turned to virtual proms to salvage at...
Read more »