Google’s parent company Alphabet achieved new successes by sharing its income report. The company revealed its second quarter report, which exceeded analysts’ expectations for revenue and earnings per share. However, revenue from YouTube ads fell below expectations.
Google earnings doubled in the last quarter
Alphabet, which owns Google and YouTube; It generated $84.74 billion in revenue, an increase of 14 percent compared to the same period last year. The company’s net income increased by 27 percent, reaching 23.62 billion dollars.
Google continues to generate most of its revenue from search ads. Exploration revenues reached 48.5 billion dollars, an increase of 14 percent compared to the same period of the previous year.
Google Cloud also showed impressive growth, increasing its revenue by 29 percent to $10.35 billion. This showed that cloud operations exceeded $10 billion for the first time.
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YouTube advertising revenues also increased, but did not meet analysts’ targets. It experienced a 13 percent revenue increase in the last quarter, reaching $8.67 billion. That figure missed analysts’ estimates of $8.74 billion, according to FactSet data.
There was also some activity in the “Other” section, which hosts long-term projects such as Alphabet’s Waymo driverless cars. Last quarter revenues more than doubled to $365 million. In his statement, Alphabet CEO Sundar Pichai emphasized that the company’s strength in search and cloud computing continues. Alphabet shares rose around 2 percent following overall financial results.
