YouTube ad revenue falls short of market expectations,
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, ‘[Edaily Jung Dasul Reporter] Alphabet, Google’s parent company, announced on the 23rd (local time) that its revenue for the second quarter increased by 14% year-over-year to $84.74 billion, surpassing Wall Street’s expectation of $84.19 billion. Earnings per share were $1.89, also beating estimates of $1.84.’,
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, ‘While YouTube ad revenue declined, search ad revenue and cloud revenue increased.’,
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, ‘YouTube ad revenue was $8.66 billion, falling short of Wall Street’s expected $8.93 billion according to market research firm StreetAccount. However, it saw significant growth compared to $7.66 billion from a year ago.’,
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, ‘Search ad revenue increased from $58.14 billion last year to $64.22 billion. This surpassed FactSet’s estimated $64.22 billion. Traffic acquisition costs (TAC), which include partner site payments and content network costs, were $13.39 billion, lower than the $13.53 billion calculated by StreetAccount. CNBC interpreted this as evidence that Google’s advertising business continues to grow despite a decrease in marketing budgets due to rising inflation and interest rates in 2022 and 2023.’,
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, ‘Cloud quarterly revenue surpassed $10 billion for the first time at $10.35 billion. Operating income also exceeded $1 billion for the first time.’,
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, ‘Google Cloud revenue reached $10.35 billion, surpassing Wall Street’s expectation of $10.2 billion.’,
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, ‘Other segment revenue, including Waymo, the autonomous vehicle company, reached $365 million. This was up from $285 million a year ago. In June, Waymo fully opened its autonomous taxi service in San Francisco, California after conducting pilot operations where only pre-booked passengers were catered to.’,
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, ‘Sundar Pichai, CEO of Alphabet, said, “This quarter’s strong performance demonstrates the continuing strength in search and cloud momentum.”‘,
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, ‘Alphabet’s stock, which closed up 0.14% on the New York Stock Exchange regular session, is showing a 1-2% increase in after-hours trading following the earnings announcement.’,
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