Google’s YouTube Q2 Ad Sales Jump, Passing $7B
Google’s YouTube saw ad revenue jump last quarter, passing $7 billion from $3.8 billion a year ago. The video giant’s parent Alphabet saw overall sales surge to nearly $62 billion from $38 billion, beating Wall Street expectations across the board.
The numbers come amid a rain of big tech earnings today including Apple and Microsoft, and following stellar performances by Snap and Twitter last year that demonstrated the strength of digital advertising. Google said retail was the biggest contributor to ad sales, along with travel, financial services and entertainment.
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YouTube has just rolled out a TikTok rival called Shorts.
It’s also a complex moment for Google on the regulatory front. Earlier this month, 36 states filed antitrust suits against the giant over its Play Store for Android — the fourth antitrust lawsuit government enforcers have filed against Google in the last year.
Alphabet CEO Sundar Pichai will talk more about the numbers and trends at conference call with Wall Streeters shortly.
“In Q2, there was a rising tide of online activity in many parts of the world, and we’re proud that our services helped so many consumers and businesses. Our long-term investments in AI and Google Cloud are helping us drive significant improvements in everyone’s digital
experience.”
“Our strong second quarter revenues of $61.9 billion reflect elevated consumer online activity and broad-based strength in advertiser spend. Again, we benefited from excellent execution across the board by our teams,” said Ruth Porat, CFO of Google and Alphabet in the earnings release.
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