Google Stock: TikTok, YouTube Competition Heats Up

$Alphabet-C(GOOG.US)$ $Alphabet-A(GOOGL.US)$ YouTube revenue rose only 5% to $7.3 billion. Analysts had estimated YouTube ad revenue of $7.52 billion, up 7%. YouTube's sales growth slowed from 14% in the first quarter.
Social media firm TikTok's advertising growth has boomed via its short-form videos. TikTok poses a headwind to YouTube's growth, analysts say.
Google said cloud-computing revenue rose 36% to $6.28 billion, missing estimates of $6.41 billion. The cloud unit's operating loss increased to $858 million from $591 million in the year-earlier period.
Alphabet repurchased $12.8 billion of its own stock in the second quarter. In the first quarter, the company repurchased $13.3 billion of Google stock.
The big tech stock had shed 19% in 2022 amid volatility in the Nasdaq. Google stock sold off July 22 after $Snap Inc(SNAP.US)$ reported disappointing earnings on weak advertising.
"While Snap's Q2 print and Q3 outlook last week spooked investors, Alphabet's Q2 results highlight that marketers are perhaps migrating to platforms with the most scale," said Deutsche Bank analyst Benjamin Black in a report.