Alphabet Inc., the parent company of both Google and YouTube, has reported advertising revenue of $54.48 billion in the quarter ended September 30, 2022, marking a 2.54% increase from the $53.13 billion it earned in the corresponding quarter in the previous year.
Alphabet has registered a revenue of $7.07 billion from YouTube Ads, $39.54 billion from Google’s Search and Other and $ 7.87 billion from Google Networks in Q3 of FY22.
According to Ruth Porat, CFO of Alphabet and Google, “Our third quarter revenues were $69.1 billion, up 6% versus last year or up 11% on a constant currency basis. Financial results for the third quarter reflect healthy fundamental growth in Search and momentum in Cloud, while affected by foreign exchange. We’re working to realign resources to fuel our highest growth priorities.”
Alphabet’s total revenue, including Cloud, Google Services, and other bets, in Q3 FY22 has gone up to $69.09 billion, from $65.12 billion it reported in the corresponding quarter in the previous year, leading to 6.10% growth in the consolidated revenue on a year-on-year basis.
While YouTube’s ad revenue has gone down by approximately 1.86% in Q3 and Google Network has gone down by 1.59%, Google’s Search and Other revenue has grown by 4.25%.
Sundar Pichai, CEO of Alphabet and Google, also said, “We’re sharpening our focus on a clear set of product and business priorities. Product announcements we’ve made in just the past month alone have shown that very clearly, including significant improvements to both Search and Cloud, powered by AI, and new ways to monetize YouTube Shorts. We are focused on both investing responsibly for the long term and being responsive to the economic environment.”
The company also reported an Operating Income of $17.14 billion in Q3 FY22, which is a decline of 18.52% from $21.03 billion it reported in the corresponding quarter of the previous year.
Moreover, the Net Income of Alphabet Inc. also fell from $18.93 billion in Q2 FY21 to $13.91 billion in Q3 FY22, marking a 26.54% decline.