earnings reports

Google parent Alphabet beats expectations in Q2 earnings

Victor Barreiro Jr.
Google parent Alphabet beats expectations in Q2 earnings

ALPHABET'S GOOGLE. Google app is seen on a smartphone in this illustration taken, July 13, 2021.

Dado Ruvic/Reuters

Google advertising revenue grows 69% to $50.44 billion year-over-year

Alphabet on Tuesday, July 27, released its second quarter earnings results with the company earning $61.88 billion in revenue.

Compared to Q2 2020 numbers, Alphabet’s revenue is up 62%. Operating income is at $19.4 billion, with a net income of $18.5 billion for the quarter and $27.26 in earnings per share.

Google advertising revenue rose by 69% to $50.44 billion while YouTube reported revenues of $7 billion, which is up 84% year-over-year.

Reuters reported that retail brands were the biggest contributor to ads’ growth, while travel, financial services, media, and entertainment sectors were also strong.

TechCrunch, in its report, mentions Youtube Shorts also “surpassed 15 billion global daily views,” which is up 131% from the 6.5 billion global daily views announced in March.

Alphabet’s “other revenues,” such as the Play Store, hardware sales, and non-advertising YouTube revenue, report $6.6 billion in revenue, up from $5.12 billion in Q2 2020.

Meanwhile, Alphabet’s “Other Bets” lost money.

While the Other Bets posted $192 million in revenue, which is up from $148 million the prior year, it lost $1.4 billion in the quarter, up from $1.1 billion in Q2 2020.

In other words, non-core Alphabet offerings lost money in the quarter, but Alphabet has more than enough to keep them going in the hopes of developing these other arms to eventually make it big in the future.

Alphabet’s earnings report is available here. – Rappler.com

Victor Barreiro Jr.

Victor Barreiro Jr is part of Rappler's Central Desk. An avid patron of role-playing games and science fiction and fantasy shows, he also yearns to do good in the world, and hopes his work with Rappler helps to increase the good that's out there.