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Overall Google ads in the third quarter grew by 6%, the weakest growth since 2013, other than the first quarter at the start of the coronavirus pandemic.
Philip Schindler, Google's chief business officer, blamed the decline on advertising spending cuts by cryptocurrency companies and other financial firms, which partially slowed revenue growth.
“In the third quarter, we saw a decrease in spending by some advertisers in certain areas of research, for example in financial services, we saw a decrease in the subcategories of insurance, mortgage, and cryptocurrency,” Schindler said.
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#Economie
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