Google parent Alphabet's ad revenue soars to $65.85 bn, with YouTube contributing $8.92 bn

New Delhi: Alphabet Inc., Google's parent company, reported a significant boost in its advertising revenue. The tech giant's results surpassed Wall Street expectations, with a recorded revenue of $88.27 billion, marking a 15% increase from the previous year.

The surge in revenue was primarily driven by Google's advertising sector, which saw ad revenues climb to $65.85 billion, compared to $59.65 billion in the same quarter last year. 

This performance indicates Alphabet's continued dominance in the digital advertising space, a sector where it holds about a 25% market share globally.

YouTube, Alphabet's video-sharing platform, also contributed significantly to the ad revenue surge. The platform's advertising income reached $8.92 billion from $7.95 billion.

Google's search division reported a revenue of $49.4 billion, marking a 12.3% increase from the previous year. Alphabet's Chief Financial Officer, Anat Ashkenazi, noted during the call that this sector continues to be the primary driver of revenue growth for the company.

Moreover, Alphabet's cloud computing division, Google Cloud, showed growth, with revenues amounting to $11.35 billion, up from $8.41 billion year-over-year. This 35% increase underscores Google's expanding influence in the cloud services market, competing with giants like Amazon Web Services and Microsoft Azure.