Alphabet Inc registers 11.59% YoY increase in ad-revenues in Q2FY22

Alphabet Inc., the parent company of both Google and YouTube, has reported advertising revenue of $ 56.29 billion in the quarter ended June 30, 2022, marking an 11.59% increase from the $ 50.44 billion it earned in the corresponding quarter in the previous year.

Alphabet said that it has registered a revenue of $ 7.34 billion from YouTube Ads, $ 40.69 billion from Google’s Search and Other and $ 8.26 billion from Google Networks in Q2 FY22.

Alphabet’s total revenue, including Cloud, Google Services and others, in Q2 FY22 has grown to $69.69 billion, from the $61.88 billion it reported in the corresponding quarter in the previous year. Leading to 12.6% growth in the consolidated revenue on a year-on-year basis. 

According to Ruth Porat, CFO of Alphabet and Google, “Our consistent investments to support long-term growth are reflected in our solid performance in the second quarter, with revenues of $69.7 billion in the quarter, up 13% versus last year or 16% on a constant currency basis. We are focused on responsible capital allocation in support of our growth opportunities.”

While YouTube’s ad revenue has grown by approximately 4.8% in Q2, Google’s Search and Other revenue has grown by 13.5%. Similarly, Google Network has also grown by 8.7%.

This growth has been mainly boosted by travel and retail queries, as per a report by Reuters. In fact, travel and retail advertisers drove an increase of nearly 14% in search ad sales for Google during the second quarter.

“In the second quarter our performance was driven by Search and Cloud. The investments we’ve made over the years in AI and computing are helping to make our services particularly valuable for consumers, and highly effective for businesses of all sizes. As we sharpen our focus, we’ll continue to invest responsibly in deep computer science for the long-term,” said Sundar Pichai, CEO of Alphabet and Google.

Meanwhile, the company reported an Operating Income of $19.45 billion in Q2 FY22, which is a marginal increase from the $ 19.36 it reported in the corresponding quarter of the previous year.

However, the Net Income of Alphabet Inc., fell from $ 18.52 billion in Q2 FY21 to $ 16 billion in Q2 FY22, marking a 13.62% decrease.

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