Google's Alphabet Q2 Revenues Down 2% (First Revenue Decline In History)

Q2 revenue was $38.3bn, a 2% decline, from a reduction in ad spending, but higher than Wall Street estimates. YouTube ad sales, however, grew nearly 6%. Net income was around $7bn. CFO Ruth Porat cited a "difficult global economic environment". Google Cloud revenue has grown 43% from the previous year to more than $3bn.