YouTube ad revenue dropped once again in Q1, for the third quarter in a row, to $6.69 billion.
That's a 2.6% year-over-year drop from the first quarter of 2022.
The number still came in slightly above analyst expectations of $6.6 billion.
- YouTube revenue dropped 7.8% in the fourth quarter of 2022.
- In February, YouTube CEO Susan Wojcicki stepped down after nine years; former chief product officer Neal Mohan replaced her in the role.
- In a call on Tuesday, CFO Ruth Porat assured investors that YouTube is seeing "signs of stabilization" in its ad business; Alphabet CEO Sundar Pichai said that YouTube TV and its subscription services have "great momentum."
