Even though Google Cloud revenue growth showed signs of slowing, it nevertheless provided something of a bright spot as parent company Alphabet — hit hard by the tightening of customer budgets — posted a year-over-year decline in net income for its 2022 fourth quarter.
Fourth-quarter gross revenue for Alphabet was $76.05 billion, up just 1% from $75.3 billion a year ago, according to company results posted Thursday. Net income (profit) was $13.6 billion, down 34% from $20.6 billion in the fourth quarter of 2021.
