Thread by @borrowed_ideas

1/ Notes from 2Q'20 Call

"Our revenue declined on a reported basis"-What an unlikely sentence to hear in an GOOG earnings call

Search is the main culprit behind the decline; non-ad segments couldn't offset search's impact.

Other bets: $148M revenue, $1.1 Bn loss

2/ Sundar is also making a pitch on India.

With US's acrimonious relationship with China, I cannot help but think India has to be US's biggest ally for next 10 years in the world. Democratic, capitalistic, and amazing depth of talent pool and consumer market.

*I'm not Indian.

3/ GOOG now automatically deletes location history, and web and app activity after 18 months. That's default now.

Like , is also focusing on shopping. It's too big a market to just concede to .

4/ Peak Google Meet participants was 600 million.

Also, a small update on Waymo.

5/ "G-suite maintained a healthy growth in average revenue per seat, as well as in seat growth..."

Other bets revenue primarily driven by Fiber and Verily

Repurchased $6.8 bn stock this quarter vs $15 bn in Q2'19.

6/ A sizable cost is not correlated with revenue, and GOOG chose to keep investing despite pressure on topline.

End/ Q&A is full of non-answers and platitudes. Hardly anything useful there.

RBC's Mahaney is asking the right question, but don't think there is anything to worry about yet.