Billions in profit – Google mother makes billions in profit

PublishedOctober 27, 2021, 2:07 am

Alphabet, the parent company of Google, surprised even experts with its quarterly figures. The success is mainly thanks to YouTube.

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Google has the largest share in the global digital advertising market.

AFP

Facebook follows right behind.

AFP

  • The Google parent company has published its quarterly figures.

  • Sales increased by 41 percent.

  • Youtube played an important role by selling advertising space.

The Google parent company Alphabet has exceeded the experts’ expectations with its quarterly figures: In the third quarter, the Internet giant increased its sales compared to the same period last year by 41 percent to 65 billion dollars. The net profit was $ 18.9 billion, as the number one in the online advertising market announced on Tuesday.

In addition to the search engine Google, the video platform Youtube was responsible for the good quarterly figures: From July to September, Youtube earned 7.2 billion dollars through the sale of advertising space – after five billion dollars in the same period of the previous year. With the cloud business, the group achieved five billion dollars in sales, 45 percent more than in the same quarter.

The digital transformation and the development towards hybrid work in the office and at home continued, which is why Alphabet’s cloud services “help organizations work together,” said Google CEO Sundar Pichai.

According to the market analysts at eMarketer, the Californian company has a 28.6 percent share of the global digital advertising market, with Facebook in second place with just under 24 percent. For years, critics have accused Alphabet / Google of abusing its dominant market position.

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(AFP / roy)

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Billions profit Google mother billions profit

 
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