Google Continues Increasing Revenue Despite Threats


  • Amazon has been taking digital advertising market share for years, but Google’s revenue keeps climbing, nonetheless.
  • Headlines sometimes underestimate the growth of the digital ad market and overestimate the severity of threats.
  • Google will adjust as new systems like ChatGPT become monetized and take digital advertising market share.

Google website through a magnifying glass



New systems like ChatGPT will eventually be monetized effectively. In some ways, this will limit Google’s (NASDAQ:GOOG, NASDAQ:GOOGL) market share in digital advertising, but I am optimistic that Google’s revenue will continue to grow nicely as

Amazon search

Amazon search (Amazon)

Amazon product searches

Amazon product searches (BriteWire)

Amazon market share

Amazon market share (Financial Times)

Google revenue

Google revenue (Author’s spreadsheet from company filings)

Google buybacks

Google buybacks (November 2022 Epsilon Theory stock buyback article)

Google SBC

Google SBC (Author’s spreadsheet)

Disclosure: I/we have a beneficial long position in the shares of GOOG, GOOGL, AAPL, AMZN, META, VOO either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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