Alphabet beat market expectations reporting revenues of $61.9 billion and net income of $18.5 billion in the quarter ending June 30, 2021, according to a report by Alphabet on Tuesday.
- The revenues grew by 62% and the net income expanded by 166%. Google is being compared to other pandemic-affected Q2 results, its gains are noteworthy.
- YouTube reported revenues of $7 billion, 84% increase year over year. YouTube Shorts product surpassed 15 billion global daily views, a 131% increase from 6.5 billion global daily views in 2020.
- Google Cloud recorded revenue of $4.6 billion, up 54% year over year. A growth rate that is slightly above Microsoft’s Azure cloud unit revenues.
The strong second quarter revenues of $61.9 billion reflects increased consumer online activity and broad-based strength in advertiser spending. Long-term investments in AI and Google will help to improve digital experience.
GOOGL down -1.59%.