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Covid-19: Google could lose $29bn in ad revenue

Mar 26, 2020 20:58 IST

Internet search and advertising giant Google could lose $28.6 billion in global ad revenue as digital advertising turns dry due to the novel coronavirus pandemic. According to Cowen & Co. analysts’ estimate, Google's total net revenue is projected to be about $127.5 billion in 2020. The firm has also cut its full-year revenue forecast for Facebook and Twitter by about 18 per cent. It added that Amazon’s business is unlikely to be affected by the downturn since its advertising is mostly related to product searches.

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