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    Google Ad Revenue Jumps 69% Blowing Away Analyst Estimates

    Q2 Revenue was $61.88 billion vs. $56.23 billion expected, while earnings per share were $27.26 vs. $19.325.

    By Harold Henry - Jul 28, 2021
    Google Ad Revenue Jumps 69% Blowing Away Analyst Estimates

    Image: Paweł Czerwiński via Unsplash

    Google parent company Alphabet reported Q2 2021 that beat analyst expectations with dramatic advertising growth from last year. The company’s ad revenue saw impressive growth to $50.44 billion, up 69% from the same quarter last year, which was hurt by the Covid pandemic.

    “There was a rising tide of online activity in many parts of the world, and we’re proud that our services helped so many consumers and businesses,” said Sundar Pichai, CEO of Google and Alphabet.

    “Our long-term investments in AI and Google Cloud are helping us drive significant improvements in everyone’s digital experience,” he added

     
     

    YouTube revenue brought in over $7 billion, up 83% from last year, which is just behind Netflix’s quarterly revenue, which was $7.34 billion, while YouTube Shorts, the company’s new TikTok competitor, just surpassed 15 billion daily views − that more than double 6.5 billion daily views in March.

    Google Cloud also rose to $4.63 billion — up from $3.01 billion a year ago.

    “Our strong second-quarter revenues of $61.9 billion reflect elevated consumer online activity and broad-based strength in advertiser spend,” Alphabet Chief Financial Officer Ruth Porat said in a statement announcing the results.

     
     

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