Alphabet, Google’s parent company, released a financial report showing that YouTube generated $8.92 billion in advertising revenue in the third quarter, up 12.2% from the same period last year. At the same time, Wall Street analysts predicted YouTube advertising revenue at $8.89 billion, Variety reports.
Image source: Chiplanay/Pixabay
Video streaming platform YouTube’s total revenue has topped $50 billion for the first time over the past four quarters, according to Alphabet and Google CEO Sundar Pichai. That averages more than $12.5 billion in quarterly revenue, which it notes does not include revenue from subscriptions to YouTube TV, YouTube Premium, YouTube Music Premium and NFL Sunday Ticket. Although Alphabet doesn’t regularly release YouTube quarterly reports, these numbers indicate significant growth.
Philipp Schindler, Google’s chief commercial officer, said at the company’s third-quarter earnings call that YouTube’s ad commitments were up 20% year-on-year. He also said that content from the 2024 Summer Olympics in Paris received 12 billion views, with 35% of the viewing time coming from YouTube TV.
Alphabet’s total revenue was $88.27 billion, up 15% year-over-year, and net income reached $26.3 billion, up 34%. That resulted in earnings per share of $2.12, well above Wall Street expectations of $86.3 billion in revenue and $1.85 in earnings per share, according to LSEG.
The new king of gaming processors has arrived - global sales of the AMD Ryzen…
Microsoft appears to have abandoned the idea of charging Microsoft 365 Personal and Home subscribers…
On the eve of the fifth anniversary, the courier action game Death Stranding from the…
Californian company Archer Aviation, which produces electric vertical take-off and landing aircraft, will begin delivering…
Apple already uses server infrastructure built on its proprietary M2 Ultra chips for artificial intelligence…
The largest Chinese contract chip manufacturer Semiconductor Manufacturing International Corp (SMIC) reported an increase in…