Google advertising revenue rises 69% from last year

  • Alphabet crushed Wall Street's expectations as it saw dramatic advertising growth amid the pandemic bounce-back.
  • YouTube revenue came in over $7 billion, up 83% from last year, drawing close to Netflix's quarterly revenue, which was $7.34 billion.
  • The stock rose more than 4% in after-hours trading.

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Alphabet reported Q2 2021 earnings after the bell. The stock rose more than 4% on the strong numbers, which crushed analyst expectations.

Here are the results.

  • Earnings per share (EPS): $27.26 vs $19.34 per share, according to Refinitiv estimates.
  • Revenue: $61.88 billion vs $56.16 billion, according to Refinitiv estimates.
  • YouTube advertising revenue: $7.00 billion vs $6.37 billion expected, according to StreetAccount estimates.
  • Google Cloud revenue: $4.63 billion vs $4.40 billion expected, according to StreetAccount estimates.
  • Traffic acquisition costs (TAC): $10.93 billion vs $9.74 billion expected, according to StreetAccount estimates.

Total Google ad revenue increased to $50.44 billion, up 69% from the year-ago quarter, which was hurt by the onset of the Covid pandemic.

YouTube revenue came in over $7 billion, up 83% from last year, drawing close to Netflix's quarterly revenue, which was $7.34 billion

Google Cloud brought in $4.63 billion — up from $3.01 billion a year ago.

The cloud business had operating losses of $591 million, a dramatic improvement from last year's loss of $1.43 billion. Google Cloud includes infrastructure and data analytics platforms, collaboration tools such as Google Docs and Sheets, and "other services for enterprise customers."

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