Tech giant Alphabet, the parent company of Google, has reported a total ad revenue of $59.6 billion for quarter three on September 30, 2023. Google search has raked in an ad revenue of $44 billion which is an increase of about 11.3%.
YouTube made $7.95 billion in ad revenue marking an increase of 12.5% than last year. The total ad revenue for the company increased by 9.5%. YouTube decreased ad revenue by 1.9% last year compared to 2021.
Sundar Pichai, CEO of Google, reported that views for YouTube Shorts on a daily basis increased to 70 billion per day, up from 50 billion earlier this year. He has added that YouTube Shorts is planning to incorporate AI-powered editing tools and other features, adding that the company is focusing on AI to YouTube, Cloud, our Pixel, and more. He also hinted at exciting progress happening that will be useful to users.
Google marked a profit of $19.7 billion for the third quarter of 2023. This is about a 46% increase from Q3 of 2022. The company’s total revenue touched $76.7 billion, which is up by 11%.
Google Cloud, also saw a rise because of increased business in AI training tools and saw a growth of 22% year over year in revenue. However, Alphabet shares went down over 6% in after-hours trading.
Source: Social Samosa
