Indeed, Netflix Inc (NASDAQ:NFLX) is a subscription-model-revenue-generating giant producing conventional big-screen content.

So is YouTube-parent company Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL), which laps up billions in advertising revenue each quarter.

In fact, YouTube topped Netflix in terms of quarterly revenue. The Google-owned video platform delivering $7.96 billion in ad-revenue in the fourth quarter, while Netflix delivered $7.85 billion during the same time frame.

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Recall the fourth quarter of 2021. At the time, YouTube delivered a whopping $8.6 billion in advertising revenue, while Netflix delivered $7.7 billion.

Blame for the reduction in Google’s ad-revenue on a year-over-year basis can be placed on the uncertain macroeconomic outlook, in which inflation remains high, but recession indicators like high unemployment rates are absent, prompting industry-wide ad budget cuts due to the uncertainty.

For the fourth quarter of 2022, Alphabet reported:

• Total revenue increased 1% year-over-year to $76.05 billion, which beat average analyst estimates of $75.69 billion, according to Benzinga Pro.
• Quarterly earnings of $1.05 per share, which missed average estimates of $1.18 per share.
• Cloud revenue hovering at around $7.3 billion, up from $5.5 billion year-over-year.
• Total ad revenue came in at $61.239 billion, up from $59.042 billion year-over-year.
• Google Search and other revenue came in at $42.6 billion, down from $43.3 billion year-over-year.

Price action: Shares of Google are trading 0.74% lower to $106.94, while shares of Netflix are trading 2.77% higher to $477.21, according to data from Benzinga Pro.

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