Google reports fall in Q2 ad revenue from last year, a first in company’s history

YouTube ad revenue stands at $3.8 billion, total revenue at $38.3 billion

e4m by exchange4media Staff
Updated: Aug 1, 2020 10:27 AM
Google

Alphabet Inc. has announced financial results for the quarter ended June 30, 2020.

Google has reported $29.9 billion in advertising revenue, down 8.4% compared to last year. According to media reports, this is the first time that the company has reported a fall in ad revenues from the previous year.

YouTube has posted $3.8 billion in ad revenue against last year’s $3.6 billion. As per reports, it has shown a dip in the growth rate when compared to Q1.

According to its financial report, its total revenues for the second quarter stands at $38.3 billion.

“We’re working to help people, businesses and communities in these uncertain times,” said Sundar Pichai, Chief Executive Officer of Google and Alphabet. “As people increasingly turn to online services, our platforms — from Cloud to Google Play to YouTube — are helping our partners provide important services and support their businesses.”

Ruth Porat, Chief Financial Officer of Alphabet and Google, said: “In the second quarter our total revenues were $38.3B, driven by gradual improvement in our ads business and strong growth in Google Cloud and Other Revenues. We continue to navigate through a difficult global economic environment.”

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