Google / Alphabet reported (PDF) its Q2 2024 earnings final evening, the place its advert income hit $64.62 billion, up 11% from final yr’s quarter of $58.14 billion. Clearly, Google’s promoting enterprise continues to develop regardless of any financial downturn we might have seen.
Google’s total income was up 14% year-over-year, with $85 billion in income and $1 billion in working revenue for the primary time. CNBC reported, “The corporate reported advert income of $64.62 billion — up from $58.14 billion final yr, displaying that Google’s promoting enterprise continues to develop, although at a slower tempo than within the first quarter, after rising inflation and rates of interest tightened advertising budgets in 2022 and 2023.”
That makes Google advert income will increase this quarter, the previous quarter, the quarter before that and the quarter before that.
That is the second finest advert income quarter Google ever reported, one of the best was the Q4 2023 earnings the place Google had advert income of $65.52 billion, which is 1.37% much less this previous quarter of $64.62 billion. Usually, This autumn is one of the best advert revenue-performing quarter for Google.
Here’s a chart plotting Google’s total income, then advert income after which revenue over the previous a number of quarters:
Right here is the snippet from the earnings report:
Sundar Pichai, CEO, mentioned: “Our robust efficiency this quarter highlights ongoing energy in Search and momentum in Cloud. We’re innovating at each layer of the AI stack. Our longstanding infrastructure management and in-house analysis groups place us properly as know-how evolves and as we pursue the numerous alternatives forward.” Ruth Porat, President and Chief Funding Officer; CFO mentioned: “We delivered revenues of $85 billion, up 14% year- on-year pushed by Search in addition to Cloud, which for the primary time exceeded $10 billion in quarterly revenues and $1 billion in working revenue. As we make investments to assist our highest progress alternatives, we stay dedicated to creating funding capability with our ongoing work to durably re-engineer our value base.”
Discussion board dialogue at X.
