Google ads gain fuels profit for parent company Alphabet


PTI, Oct 27, 2021, 9:12 AM IST

Source: unsplash

A continued rebound in digital ad spending at Google drove its parent company’s profit up 68 per cent in the third quarter. Mountain View, California-based Alphabet Inc said Tuesday that it earned USD 18.94 billion, or USD 27.99 per share, in the July-September period. Revenue rose 41 per cent to USD 65.12 billion. Analysts polled by FactSet expected earnings of USD 23.73 per share on revenue of USD 63.53 billion. Shares nonetheless slipped 1.7 per cent to USD 2,740 in after-hours trading.

Google is the world’s dominant search engine, owns the biggest mobile operating system in Android and runs the behemoth video site YouTube. It holds 29 per cent of the global USD 455 billion digital ads market, according to eMarketer, followed closely by Facebook. Both tech giants are benefiting as companies that scaled back on advertising last year during the pandemic pump more money into marketing. The company’s dominance has drawn scrutiny for years, and regulators in the US and other countries have gone after Google over different aspects of its business, including search, ads and its app store, to try to curtail its reach.

The advertising business, the core of the company, rose 43 per cent to USD 53.13 billion. YouTube’s ads jumped 43 per cent, to USD 7.21 billion, and the cloud-computing business climbed 45 per cent to USD 4.99 billion.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Mumbai: Woman drowns three-month-old daughter in water tank; arrested

No case of Omicron variant in TN so far: Health Minister

KS Eshwarappa warns cattle-traffickers of action

Dont give nod to TN’s Cauvery-Vaigai-Gundar project till Mekedatu is cleared: K’taka CM to Centre

K’taka CM discusses Omicron variant with Mandaviya; calls for booster dose to health workers

‘Scam 1992’ leads nominations for Filmfare OTT Awards 2021

Murder plot against BJP MLA: Police serve notice Cong leader, 9 others


Related Articles More

Clubhouse rolls out support for Marathi, Bengali, other 11 languages

Uber, WhatsApp partner to launch ride-booking via WhatsApp in India

LinkedIn launches in Hindi

Genesys to prepare 3D map of India’s top-100 cities

Why increased rainfall in the Arctic is bad news for the whole world

MUST WATCH

‘Car’bar with Merwyn Shirva | Episode 2|

NEWS BULLETIN 02-12-2021

Leopard Strays Into School and Attacks Student Cheetah Locked Up In Classroom

Cow Video Viral at Byndoor

Lifestyle Diseases: Awareness Prevention


Latest Additions

Mumbai: Woman drowns three-month-old daughter in water tank; arrested

No case of Omicron variant in TN so far: Health Minister

Central Vista project of national importance, all measures taken to ensure no pollution: Centre to SC

KS Eshwarappa warns cattle-traffickers of action

Dont give nod to TN’s Cauvery-Vaigai-Gundar project till Mekedatu is cleared: K’taka CM to Centre

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.