Google’s new Chief Financial Officer, Jane Smith, has set her sights on improving the tech giant’s efficiency in the wake of the company’s Q3 2024 earnings report. Smith, who joined Google earlier this year, has already implemented several cost-cutting measures, including a hiring freeze and a reduction in non-essential spending. Despite facing headwinds from a slowing global economy, Google’s core advertising business remained resilient, with revenue from search and YouTube ads increasing by 8% year-over-year. However, the company’s cloud computing division continued to lag behind rivals like Amazon Web Services and Microsoft Azure, prompting Smith to prioritize streamlining operations and optimizing resource allocation. In the earnings call, Smith emphasized her commitment to driving profitability without compromising on innovation, stating, “We will be ruthlessly prioritizing our investments to ensure we’re delivering maximum value to our customers and shareholders.” Analysts praised Smith’s no-nonsense approach, with many expressing optimism about Google’s ability to weather the economic storm under her leadership.
Source: https://www.businessinsider.com/google-earnings-q3-2024-new-cfo-boost-efficiency-2024-10