Alphabet, the parent company behind it search giant Google released first quarter results showing lower than expected earnings.
As of March 31, Alphabet’s revenue was $68 billion, down from analysts during a recent $68.1 billion forecast by Yahoo Finance.
Earnings per share were similarly less impressive, coming in at $24.62 instead of the $25.94 forecast.
Commenters point to the bigger picture as Google tries to diversify its revenue streams. Google bosses are hoping to become less reliant on its nearly 90 percent dominance search marketplaceespecially since the slowdown in the global economy has taken place.
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Cloud Computing Portfolio
Google not only benefits financially from the revenue generated from the sale of keyword and search-based advertising, but also strengthens its cloud computing portfolio.
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