Google ad recovers, eases concerns of Alphabet's first-ever sales drop

Google's ad sales have recovered since plummeting in March during the coronavirus pandemic, parent Alphabet Inc said on Thursday, easing concerns about its first quarterly sales slide in its 16 years as a public company.

Alphabet shares were barely changed at $1,552, above their pre-pandemic high, after it said revenue fell 2% in the second quarter, less than analysts' estimate of a 4% decline.

Alphabet, whose ad sales account for about 78% of its revenue, has struggled during past economic slowdowns, as marketing is often the first budget item to get slashed.

But Google and its online advertising rivals Facebook Inc and Amazon.com Inc on Thursday