YouTube ad revenue hits $7.34 billion in slight miss – News Kidda

YouTube brought in $7.34 billion in ad revenue in the second quarter, parent company Alphabet reported Tuesday in its quarterly results.

Second-quarter revenue was just 4 percent ahead of video platform’s second-quarter revenue of just over $7 billion in the same period of 2021. Google’s parent company increasingly sees YouTube as a global entertainment, lifestyle destination and educational content.

Alphabet reported revenue of $69.68 billion for the second quarter, up 13 percent from $61.8 billion in the previous year, coming just below analysts’ estimate of $69.9 billion for the latter. financial quarter.

Alphabet reported net income of $16 billion, or $1.21 in earnings per share, compared to net income of $18.5 billion a year earlier, and earnings per share of $1.36. Analysts are forecasting earnings per share of $1.28 for the last quarter.

Alphabet and Google CEO Sundar Pichai underlined in a statement how its second-quarter performance was driven by search ads and cloud revenue. “The investments we’ve made in AI and computing over the years help make our services extremely valuable to consumers and highly effective for businesses of all sizes. As we sharpen our focus, we will continue to invest responsibly in deep computing for the long term,” he argued.

YouTube, one of the largest online video platforms in the world, has continued to focus on short video through YouTube Shorts, which has a mobile offering that competes directly with TikTok and generates rapid subscriber and viewer growth thanks to its built-in global reach.

Alphabet executives during an aftermarket conference call are expected to comment on YouTube Shorts and average daily views in Q2.

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