Google’s Travel Business Proves Stubbornly Resilient as Other Advertisers Retreated
Photo Caption: A guest listens to one of the many records available to borrow in the lobby of the Jams Music Hotel in Munich, Germany. Travel revenue increased for google in the fourth quarter of 2022.
Skift Take
Google is actively taking a new look at its business priorities, propelled by companywide bets on artificial intelligence. Google Travel is clearly an important part of its advertising business, but will it be as shiny as others?
While Alphabet, Google's parent, saw advertising revenue tick down 1.6 percent in the fourth quarter, travel and retail revenue increased.
If you exclude a substantial adverse foreign exchange impact in the fourth quarter, which ended December 31, Alphabet's "search and other" revenue, which includes advertising, would have increased "moderately," said Chief Financial Officer Ruth Porat, "reflecting an increase in retail and travel, offset partially by a decline in finance."
Alphabet announced the layoffs of 12,000 employees, or 6 percent of its workforce last month, and Google Flights se
