YouTube Ad Revenue Rises 13% to $8.66 Million in Q2

YouTube’s ad sales momentum continued in the second quarter of 2024, growing 13% year over year to $8.7 billion.

Google subscriptions, platforms and devices revenue, which includes YouTube TV, Music, Premium and NFL Sunday Ticket, grew 14% year over year to $9.3 billion.

The video platform’s growth comes as its parent company Alphabet beat earnings expectations for the quarter, with a 14% year over year jump in revenue.

“Our strong performance this quarter highlights ongoing strength in Search and
momentum in Cloud,” Alphabet CEO Sundar Pichai said. “We are innovating at every layer of the AI stack. Our longstanding infrastructure leadership and
in-house research teams position us well as technology evolves and as we pursue the many opportunities ahead.”

Here are the top-line results:

Net income: $23.62 billion, compared to $18.37 billion for the prior-year period.

Earnings per share: $1.89, compared to $1.85 per share expected by by analysts surveyed by Zacks Investment Research.

Revenue: $84.7 billion, compared to $70.6 billion expected by analysts surveyed by Zacks Investment Research.

More to come…

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