Google reports Q3 2020 revenue of $46.2 billion, ad revenue soars
Revenue from advertising stood at $37.09 billion, up from $33.79 billion in Q3 2019
Google parent Alphabet on Thursday reported its Q3 2020 earnings. Beating analysts’ expectations, the search engine giant posted total revenue of $46.2 billion. The revenue is up 14% from $40.5 billion in Q3 2019. It was $38.3 billion last qaurter.
The net income stood at $11.2 billion for this quarter, against $6.96 billion last quarter.
Revenue from advertising stood at $37.09 billion, up from $33.79 billion in Q3 2019.
YouTube ad revenue was $5.04 billion, while Cloud reported $3.44 billion in Q3 2020. YouTube ad revenue was $3.8 billion in Q3 2019, and Cloud was $ 2.37 billion in Q3 2109.
“We had a strong quarter, consistent with the broader online environment,” said Sundar Pichai, Chief Executive Officer of Alphabet and Google reportedly said. “It’s also a testament to the deep investments we’ve made in AI and other technologies, to deliver services that people turn to for help, in moments big and small,” he added.
Ruth Porat, Alphabet’s Chief Financial Officer, said in a release. “Total revenues of $46.2 billion in the third quarter reflect broad based growth led by an increase in advertiser spend in Search and YouTube as well as continued strength in Google Cloud and Play.”
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