According to the most recent earnings call from Google’s parent company, Alphabet, the financial services sector, which includes cryptocurrencies, suffered a decline in advertising income for Google.
The third quarter of this year saw a decline in Alphabet’s revenue from Google advertising, according to Philipp Schindler, SVP and CBO at Google.
Notably, Google amended its financial goods and services policy in July of this year, adding regulations for adverts connected to cryptocurrencies. These updates concentrated on the Philippines, the United Arab Emirates, Hong Kong, Thailand, South Korea, France, Germany, and South Korea.
When the firm modified its policy to let crypto exchanges and wallets to promote their goods and services in the US, it took a huge step forward.
On October 25, the business released its third-quarter 2022 financial results.
In terms of ad revenues particularly, YouTube advertising declined somewhat in Q3 of this year compared to Q3 of 2021, but Google advertising increased. Compared to Q3 2021, Google Services also experienced a decline in Q3 2022.
