Alphabet which is the parent company of Google, has posted an all-time record revenue of $61.9 billion for the July-September quarter and a record profit at $18.9 billion. Google Services revenues were $59.9 billion, up 41 per cent, and Google Search and other advertising revenues of $37.9 million in the quarter were up 44 per cent.
According to the company’s official statement it is stated that YouTube advertising revenues of $7.2 billion were up 43 per cent due to strength in both direct response and brand advertising. For Google Cloud, the revenues were $5 billion for the third quarter, up 45 per cent.
Sundar Pichai, CEO of Alphabet and Google stated that their long-term investments in AI and Google Cloud are helping them drive significant improvements in everyone’s digital experience.
Pichai further added that search remains the heart of what they do and they have made remarkable advances over the past 23 years that benefits Search and related products like Google Assistant, which just celebrated five years.
Ruth Porat, Senior Vice President and Chief Financial Officer stated that Google Cloud Platform’s (GCP) revenue growth was again above cloud overall, reflecting significant growth in both infrastructure and platform services. They are also expecting a robust headcount growth in Q4 for both Google Services and Google Cloud.
Pic Courtesy – Google
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