Alphabet Earns Record Profit Thanks To Google Ad Surge

Share post:

Google’s advertising revenue soared 41% to $53.1 billion in the third quarter.

Through its search engine, it sold more internet ads across the Web, thanks to its video service YouTube and various partnerships.

The jump in advertising revenue has pushed Alphabet’s total revenue to $65.1 billion, above the average estimate of $63.3 billion that analysts had forecast.

While other platforms, such as Snap and Facebook, complained about Apple’s move and its impact on their third-quarter sales, analysts noted that Google was less affected than its contemporaries because its search engine collects data on user interests, which are therefore considered valuable to advertisers, as Collin Colburn, an analyst at technology consultancy Forrester, puts it: “They are almost completely immune to Apple’s changes.”

Commenting on the development and full return of brick and mortar stores across the country, Google’s Chief Business Officer Philipp Schindler said: “The consumer shift to digital is real and will continue even after we start seeing people return to stores. The underlying takeaway is that people want more choice, they want more information, more flexibility, and we don’t see this reversing.”

For more information, read the original story in Reuters.

Featured Tech Jobs


Related articles

FTC says Microsoft’s layoffs at Activision Blizzard may threaten merger approval

The FTC has expressed dissatisfaction with Microsoft's layoffs at Activision Blizzard, challenging the integrity of the Microsoft-Activision deal....

Delaware court voids Musks $56 billion dollar compensation

Tesla's stock experienced a notable downturn following a Delaware court's decision to void CEO Elon Musk's massive $56...

IT World Canada strikes partnership with Canadian Cybersecurity Network

Goal is to make it easier for infosec pros to access each organization

Microsoft overtakes Apple as world’s most valuable company

In a notable shift in the tech industry, Microsoft has recently overtaken Apple to become the world's most...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways