Alphabet had more than $70 billion in market cap wiped out, and it says YouTube is one of the problems
Google has a YouTube problem, according to CFO Ruth Porat. On Monday, after reporting that ad revenue grew 15% versus the 24% it saw a year ago, Google’s parent company Alphabet saw its stock punished. It fell more than 8% Tuesday afternoon. According to Porat, YouTube was one of the culprits.