Following Russia’s invasion of Ukraine, several of the world’s biggest companies ceased sales and business dealings within the Eastern European country. This included Google, which recently shared its Q1 2022 earnings report. On the subsequent earnings call, company leadership spoke about its decision to halt its business in Russia, as well as the financial impact that it may have in the future. As things stand, Google (GOOGL) is expecting the move to have an effect on its Q2 2022 performance.
Google executives shared the update on the state of its business in Ukraine during its Q1 2022 earnings call. It’s customary for companies to provide an outlook on the upcoming performance, speaking to the multitude of factors that may influence financial performance. It’s important information for shareholders to have ahead of the start of the quarter.
Google first paused the large share of its business in Russia back in March, along with several other top companies around the globe. This halt in business means a chunk of users no longer having access to the company’s services, thus, taking away from revenue. Google (GOOGL) is anticipating this to have a noticeable impact on its Q2 2022 performance.
Outside of the human impact, the war in Ukraine has had a huge influence on industries around the world, including those of technology and entertainment. However, it won’t be until the end of Q2 that we get a true sense of just how big of a deal this was for Google and its family of services. For all of the news and updates out of Google’s Q1 2022 earnings report, Shacknews has you covered.