One of the key players in the world of technology, Alphabet, the parent company of Google, held an event today. As part of the event, Google shared a report on the earnings for the third quarter of 2023. According to the report, the company has experienced significant growth both in terms of revenue and profit. Here are the details!
Alphabet’s revenue saw an increase of $77 billion!
During the event organized by Google’s parent company Alphabet, the financial report for the third quarter of 2023 was shared. According to the announcement made in the report, the company has seen an increase in both revenue and profit. So, according to the reports, how much did Google earn?
According to the statements, the company’s revenue in the last three months has increased by 11 percent compared to the same period last year. Additionally, there was an increase of $77 billion. $19.69 billion of the earnings remained as net profit.
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These results have largely satisfied investors. Alphabet mentioned that it earned $7.95 billion from YouTube advertising revenue and $8.41 billion from Google Cloud services. Considering that Google Cloud services incurred a loss of $590 million last year, it is possible to say that there has been significant progress.
In addition to all this, Alphabet also made statements about the investments from partnerships in companies such as Calico, CapitalG, Verily, Nest, Waymo, and X, which make up the “Other Bets” investments. The company generated $297 million in revenue from these investments this year, compared to the previous year. The loss decreased by $40 million to $1.19 million this year.
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