Google logs record $18.9 bn profit, Search and YouTube soar

by IANS |

San Francisco, Oct 27 (IANS) Alphabet, the parent company of Google, has posted an all-time record revenue of $61.9 billion for the July-September quarter, along with record profits at $18.9 billion.

Google Services revenues were $59.9 billion, up 41 per cent, and Google Search and other advertising revenues of $37.9 million in the quarter were up 44 per cent.

The company said in a statement late on Tuesday that YouTube advertising revenues of $7.2 billion were up 43 per cent due to strength in both direct response and brand advertising.

"Our long-term investments in AI and Google Cloud are helping us drive significant improvements in everyone's digital experience," said Sundar Pichai, CEO of Alphabet and Google.

"Search remains the heart of what we do. We have made remarkable advances over the past 23 years that benefits Search and related products like Google Assistant, which just celebrated five years," he added.

For Google Cloud, the revenues were $5 billion for the third quarter, up 45 per cent.

"Google Cloud Platform's (GCP) revenue growth was again above cloud overall, reflecting significant growth in both infrastructure and platform services," said Ruth Porat, Senior Vice President and Chief Financial Officer.

At the Alphabet level, headcount grew by nearly 6,000 in the third quarter, including seasonal campus hires.

"We expect robust headcount growth in Q4 for both Google Services and Google Cloud," the company said.

Alphabet said that with respect to foreign exchange impact on reported revenues, it expects virtually no impact in Q4 in contrast to a 1.5 per cent tailwind in Q3 and 4 per cent in its Q2.

Latest News
UN releases $2mn emergency funds for Yemen Sat, Jan 29, 2022, 04:25 PM
African bloc suspends Burkina Faso's membership over coup Sat, Jan 29, 2022, 03:59 PM
Tunisia arrests woman on suspicion of plotting terror attack Sat, Jan 29, 2022, 03:57 PM
Indian wheat shipment for Kabul via Pak may start in Feb Sat, Jan 29, 2022, 03:55 PM
Rocket attack on Baghdad airport aims to isolate Iraq internationally Sat, Jan 29, 2022, 03:52 PM
Germany's Covid figures not as high as predicted Sat, Jan 29, 2022, 03:50 PM
Italy's Covid incidence rate, hospital bed occupancy falling Sat, Jan 29, 2022, 03:49 PM
NGT asks to recover fine from illegal garment units in Chandni Chowk Sat, Jan 29, 2022, 03:37 PM
PMK planning to make a mark in TN urban local body polls Sat, Jan 29, 2022, 03:36 PM
Kerala HC asks actor Dileep, his aides to handover 6 mobiles for probe Sat, Jan 29, 2022, 03:36 PM
Masked men steal cash, gold in J&K's Baramulla Sat, Jan 29, 2022, 03:35 PM
Actor-singer Gippy Grewal barred from entering Pak via Wagah border: Report Sat, Jan 29, 2022, 02:30 PM
Int'l military assistance for Ukraine optimistic: Defence Minister Sat, Jan 29, 2022, 02:25 PM
Russia bans more EU officials from entry Sat, Jan 29, 2022, 02:18 PM
TN should cancel agreement with training centre under cloud: Anbumani Ramadoss Sat, Jan 29, 2022, 02:15 PM