Google Earnings Slashed In Search Advertising YouTube Cloud Computing

1. Google reported second-quarter earnings of $1.05 per share.

2. Missing analysts' estimates of $1.18 per share. 

3. Gross revenue also came in below expectations, rising just 1% to $76.05 billion.

4. Advertising revenue at Google's YouTube unit dropped more than 7% to $7.96 billion.

5. Which is far below estimates of $8.22 billion.

6. Cloud-computing revenue increased 32% to $7.32 billion.

7. But still missed estimates of $7.44 billion. 

8. Google stock fell 4.4% in after-hours trading on the news. 

9. The company is facing increasing competition from social media firms.

10. Such as TikTok and Microsoft's investment in artificial-intelligence startup OpenAI.

11. An antitrust lawsuit from the Department of Justice.