Alphabet’s second-quarter revenue and profit rose above expectations thanks to the rise in advertising spending as more customers shopped online.
The company’s revenue from Google advertising rose nearly 70% to $50.44 billion in the second quarter of 2021.
Ad revenue for the company’s streaming video platform, YouTube leaped 83.7% to $7 billion, while Google Cloud generated revenue of $4.63 billion in the second quarter of 2021 and narrowed its operating loss to $591 million during the quarter.
Alphabet’s total revenue rose 61.6% to $61.88 billion, beating Wall Street estimates of $56.16 billion.
Quarterly profit was $18.5 billion or $27.26 per share, which beat expectations of $19.34 per share.
For more information, read the original story in Reuters.