Google’s parent company has delivered its most lucklustre results since the early days of the pandemic, as advertising slows in fear of a recession.

Alphabet posted revenue of $69.1 billion (A$106.5 billion) for the September quarter, a 6 per cent increase year-on-year.

This marks the first time since the June quarter of 2020 that Alphabet has not enjoyed double digit revenue growth.

Profits were down 27 per cent from the same time last year, sitting at $13.9 billion (A$21.4 billion).

It all comes down to Google’s flagging ad sales, which were up just 2.5 per cent year-on-year, totalling A$84 million.

YouTube ad sales were down 2 per cent from September 2021, the first time YouTube’s revenue has dropped since the company became reporting results in 2019.

Not surprisingly, Alphabet’s shares have dropped 9.1 per cent today, down almost 35 per cent this year.

The revenue slowdown also created a drag on Alphabet’s profits. The Mountain View, Calif., company earned $13.9 billion, $1.06 per share, a 27% drop from the same time last year. Both revenue and earnings per share fell below projections of analysts surveyed by FactSet.

Alphabet CEO Sundar Pichai said of the drop in ad revenue: “We’re sharpening our focus on a clear set of product and business priorities.”

Google is also facing billions in fines from various corners of the globe, charged with everything from unfair market dominance in the app store world, to major privacy issues regarding its Incognito Search mode.