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YouTube missed expectations on ad revenue as growth slowed down

Content creator Julian Shapiro-Barnum spoke at the Made on YouTube event.
Content creator Julian Shapiro-Barnum spoke at the Made on YouTube event.

Noam Galai/Getty Images for Made on YouTube 2026

  • YouTube's ad revenue fell short of analysts' expectations for the third quarter.
  • Its parent reported $11.2 billion in Q3 ads revenue, under analysts' $11.43 billion estimate.
  • The company said it now has 150 million YouTube Music and Premium subscribers, up from 125 million in March 2025.

YouTube's ad revenue growth slowed down, missing analysts' estimates in the third quarter.

Its parent company, Alphabet, reported $11.2 billion in third-quarter YouTube ads revenue, a 9% increase from a year ago. That falls below the $11.43 billion analyst consensus estimate. Its ads revenue growth also slowed from the previous quarter, when it pulled in about $11.1 billion, a 13% increase from the previous year.

Beyond YouTube, Alphabet missed expectations in other areas of its business, including on overall revenue. In a bright spot, it beat revenue estimates for its cloud business.

The company's shares were down over 10% in after-hours trading.

While YouTube's ad revenue was weaker than expected, it wasn't all bad news. The company said it now has over 150 million YouTube Music and Premium subscribers, up from 125 million in March 2025. The company said its subscriptions business was growing faster than ads.

YouTube has also been the envy of rivals in key areas like TV viewership. Its share of US television viewership was about twice that of Netflix in August, according to recent Nielsen estimates. Over a third of YouTube's third-quarter ad revenue came from the living room, Google's chief business officer Philipp Schindler said on Wednesday.

Netflix, meanwhile, walked back its full-year ad revenue expectations during last week's earnings. The streamer lowered its ad revenue forecast from $3 billion to $2.7 billion after experiencing delays around the rollout of its ad products. It laid off about 1,000 workers earlier this month.

This week, Instagram unveiled an overhaul of long-form video features seemingly designed to counter YouTube and bolster its presence on TV screens.

"Everyone in streaming is chasing YouTube, and even Instagram is going to pivot their strategy based on the success that YouTube's had," said Ross Benes, a senior analyst at EMARKETER, Business Insider's sister company.

Read the original article on Business Insider

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Latin America: the ‘cultural battle’ as a facade for neoliberalism

For several years now, politicians, influencers, and intellectuals from Latin America’s new radical right have been speaking about the importance of the “cultural battle” to recover a sort of perspective lost in the past and to underpin a civilizational project that prioritizes the individual, individual freedom, and the free market above all else.

Probably the first to insist on this idea in the media was Javier Milei, the current president of Argentina, who initially made a name for himself as an economist who had no problem insulting his opponents and defending orthodox neoliberal thought.

At that time, Milei, along with his intellectual allies, called for a stand against a purported culture imposed by so-called left-wing elites who had tarnished common sense, Christian morality, and individual freedom, among many other things.

A few days ago, Colombian President Abelardo de la Espriella called for a radicalization of his “cultural battle” and ordered the removal of dozens of works of art from various museums in order to restore a culture that has been held captive by the left, Marxism, and other dark (or, as Milei himself puts it, “demonic”) forces.

In reality, the move isn’t particularly original. Back in the United States, Pat Buchanan (a close advisor to Nixon and Reagan) had already advocated for and encouraged inflammatory rhetoric to wage a “culture war” and thus defend a culture tarnished by social change. Among the major intellectual inspirers of this doctrine are the American Sam Francis and the Frenchmen Alain de Benoist and Guillaume Faye (albeit with their well-known differences). Even some Germans in the 1930s attempted to make what they called “cultural Bolshevism” the scapegoat for all their ills.

But the push for a “cultural battle” in Latin America had a more interesting rationale. And it is not so much due to a supposed pragmatic interpretation of Antonio Gramsci’s concept of hegemony – which has been distorted by the new radical right, as well as by much of liberalism and social democracy, which understand it solely as “cultural hegemony.”

No, in reality, the intention behind invoking a “culture war” against feminism, abortion rights, progressive governments, left-wing artists, revolutionary intellectuals, etc., is more of a strategic nature.

For those who are actually, as ideologues, behind the “culture war” projects are not Buchanan, Francis, De Benoist, or Faye, but Hayek, Friedman, and the rest of the neoliberal economists.

The truth is that neoliberalism in Latin America during the late 20th and early 21st centuries was both a resounding failure and a magnificent victory. This apparent contradiction is resolved depending on which social class we are discussing. During that time, the most powerful social classes, economically speaking, managed to accumulate an enormous amount of power and resources, the likes of which have rarely been seen in Latin American history.

But such a level of accumulation in societies subjugated by a global imperialist order (such as those in Latin America) necessarily drives the working classes into conditions of material precariousness that are almost unbearable. Mass migration, uprisings, deaths, the loss of a lifetime’s savings, rising crime, and so on were just some of the devastation left in the wake of the neoliberalism driven by the Washington Consensus during that period.

In response to the crisis, several centrist, center-left, and even leftist leaders won elections in the region in quick succession: Chávez in Venezuela, Morales in Bolivia, Fernández in Argentina, Correa in Ecuador, Lula in Brazil, Bachelet in Chile, Mujica in Uruguay, etc. They sought to resolve a capitalist economic crisis within the framework of capitalism itself, resorting to approaches that combined Keynesian measures with legislation designed to protect and expand rights, especially for the most marginalized sectors.

These were times when (not without contradictions with other political forces, including those of a more traditional left) the economies of these countries improved, thanks in part to high commodity prices on the global market. And with public policies that, in many cases, focused on providing aid and social programs, the situation of millions of Latin Americans clearly improved. Between 2000 and 2012 alone, 56 million Latin American citizens managed to rise out of poverty.

Once the storm of discontent against neoliberalism had passed, the ruling classes decided they’d had enough of progressive governments. But to regain absolute control (since they had always maintained the necessary share of power to influence national decisions), they needed to win back the governments, and to do so, they found themselves at a crossroads.

They knew that the central argument against center-left governments could not be based solely on the economic downturn that followed the end of high prices for Latin American natural resources, but that it had to be grounded in something more – something that would come across as novel, radical, and a sort of conservative revolutionary ideology.

And that is how they found in the “culture war” a niche for ideological propaganda that has had a historic impact on Latin America. In addition to the aforementioned criticisms, they succeeded (through their intellectuals, politicians, influencers, media outlets, social media, and so on) in creating a perceived link between progressivism and corruption, between progressivism and organized crime, and, finally, between progressivism and an alleged erosion of individual freedom.

But the truth is that these kinds of strategies can cause political upheaval like that seen in the region in recent years, during which (thanks to the support of national and international tycoons, as well as support from Washington and other governments such as Israel’s) there has been a string of victories for the radical right, which could complete its winning hand next Sunday in Brazil.

But in the long term, neoliberalism cannot (nor does it intend to) overcome the contradiction inherent in an economy of this nature in countries with clear relationships of international domination. Thus, at the height of this new wave of neoliberal right-wing movements, the first cracks in ideological stability are already beginning to appear, precisely in the face of a material reality that offers no respite from political rhetoric.

The situation of millions of Latin Americans (especially the poorest) is rapidly being complicated by a radical increase in the rate of inequality. The promises made by the new right-wing movements to defeat organized crime show no signs of being a reality or of bringing about clear regional change. Perhaps this is what Nietzsche, another great reactionary, meant when he acknowledged that culture is merely the veneer of something deeper. And that veneer is beginning to wear away very slowly – a process that is nonetheless noticeable if one pays attention.

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SK Hynix needs a Trump 2027 deal to expand its Dalian NAND fab

South Korean memory chipmakers must secure new United States licenses by year-end to keep shipping top-end American tools to their Chinese factories, after the Trump administration scrapped blanket permits last year. To win the permits, SK Hynix and Samsung must promise to build or expand factories in the US. SK Hynix’s one-year license to ship […]

The post SK Hynix needs a Trump 2027 deal to expand its Dalian NAND fab appeared first on Asia Times.

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Iran war-depleted arsenal making US a less potent power

The Iran conflict has exposed a glaring blind spot in US war strategy. America can escalate in hours, but it can take years to rebuild the arsenal it consumes. Washington has begun addressing the arms-replenishment problem, a calculation it should have made before escalating. The Pentagon’s recent awards reflect the intensity of the challenge. In […]

The post Iran war-depleted arsenal making US a less potent power appeared first on Asia Times.

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Samsung dangles $560,000 bonuses to keep engineers from China

A Samsung memory chip worker earning about $60,000 a year could receive roughly $560,000 in bonuses before tax, according to the company’s largest union. Its estimate includes both Samsung’s existing profit-sharing bonus and a new special payment. Samsung hasn’t confirmed the amount. On October 7, the company outlined how that special bonus would work: 10.5% […]

The post Samsung dangles $560,000 bonuses to keep engineers from China appeared first on Asia Times.

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How Catherine the Great Wanted to Resurrect the Byzantine Empire in the 18th Century, and Why the Plan Fell Apart

In 1787, Catherine the Great set off on a six-month tour of Crimea, a territory Russia had annexed only four years earlier. The emperor of Austria and a group of European diplomats travelled with her. Along the route, triumphal arches had been built specially for the occasion, and the inscription they carried was hard to […]

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The Blind King Who Rode Into the Battle of Crécy Tied to His Knights – and the Legend That Gave the Prince of Wales His Feathers

On 26 August 1346, English and French armies met at one of the most important battles of the Hundred Years’ War: Crécy. Edward III’s English army crushed the French army of Philip VI. The defeat was so complete that it allowed Edward to lay siege to Calais and tilt the whole war in his favour. […]

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US bans Chinese data center gear as Beijing grounds its AI talent

The artificial intelligence (AI) race between the United States and China has accelerated in model protection, supply chains and talent controls, even as the two nations’ leaders agreed last week to open a new dialogue on AI safety. A string of moves announced or uncovered this week shows that both sides are now guarding their […]

The post US bans Chinese data center gear as Beijing grounds its AI talent appeared first on Asia Times.

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Last Great Cavalry Charge Wasn’t Led by Europeans — It Was Won by Indian Lancers in WWI

India calls it Haifa Day. The regiments that get the credit are the lancers of Jodhpur, Hyderabad and Mysore — cavalry units raised not by Britain directly, but by India’s semi-autonomous princely states, which supplied their own troops to the British war effort. Grouped into the 15th Cavalry Brigade and led into the final charge […]

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The Last Battle of America’s Indian Wars Wasn’t Fought by the Sioux or the Apache — It Happened in 1918

In the United States, the phrase Indian Wars conjures a specific set of images: the Battle of Little Bighorn, the massacres at Wounded Knee and Sand Creek, the forced marches of the Trail of Tears, the decades-long manhunt for Geronimo. All of it is generally remembered as a 19th-century story, closed out by the early […]

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How Italy and Japan Ended Up as Enemies in World War II and Didn’t Sign Peace Until 1951

Two of the most prominent belligerents of World War II ended up clashing despite having initially fought on the same side, and it wasn’t until 1951, six years after the end of the conflict, that they signed an unusual peace. One of them was Italy, obviously, where the government that succeeded Mussolini signed an armistice […]

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Bacon’s Rebellion, the Colonial Virginia Civil War Considered the Origin of American Racism

It is clear that ethnic differences, like religious ones, have been the origin of countless conflicts throughout the world from Antiquity to the present day. It is not surprising, then, that this also occurred when the Old and New Worlds established definitive contact after Columbus’s arrival in 1492. These differences manifested in Spanish America through […]

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Sacred Wars, the struggle of the Greek polis to seize control of the sanctuary of Delphi

In Greek mythology, Delphi was considered the omphalos or navel of the world, the womb of the goddess Gaia (in fact, that is what the original name means, and it is believed that dolphins are named after it because of their womb-like shape), and although it was the possession of Apollo, it had previously been […]

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The Battle of Navarino, the day the Ottoman fleet was wiped off the map and Greece gained its independence

“I have sent him a ribbon when, in fact, what he deserved was a rope.” This phrase is attributed to King George IV of England, and the ribbon in question would be that of the Order of the Bath, which had just been awarded to Edward Codrington, the admiral who had achieved victory in the […]

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Samnites, the fierce warriors who humiliated the Roman legions at the Caudine Forks

One of the greatest affronts suffered by the Roman legions took place in 321 BC, after the Battle of the Caudine Forks. Not only because of the forced surrender, without even fighting, but also due to the humiliation that officers and soldiers endured afterwards, being forced to pass, dressed only in their tunics, under a […]

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