Alphabet just released its quarterly financial report, and the company managed to pull some very impressive results. Alphabet published its Q3 2021 earnings with $65.11 billion in revenue, which is from July to September, and it’s the company’s highest recorded revenue yet for the third quarter.
The revenue was up 41% from $46.2 billion in Q3 2020, and the operating income was at $21 billion. The profit for Q3 2021 is reported to be nearly $19 billion (which is $27.99 per share), which was a lot better than the expected $24.08 per share (via 9to5Google).
In the earnings call, Sundar Pichai, the CEO of Google and Alphabet, said the following:
“Five years ago, I laid out our vision to become an AI-first company. This quarter’s results show how our investments there are enabling us to build more helpful products for people and our partners. Ongoing improvements to Search, and the new Pixel 6, are great examples. And as the digital transformation and shift to hybrid work continue, our Cloud services are helping organizations collaborate and stay secure.”
Ruth Porat, CFO of Google and Alphabet, also talked about the revenues and focused on meeting expectations and delivering on its promises.
“Our consistent investments to support long-term growth are reflected in strong financial performance, with revenues of $65.1 billion in the quarter. We continued to deliver across our business by providing helpful and valuable experiences for both consumers and our partners.”
Unsurprisingly, Google’s advertising division earned the most amount, with $53.1 billion brought in by Google Search, Youtube Ads, and Google Network. YouTube’s ad revenue on its own was $7.2 billion (compared to $5.04 billion in 2020), while Google Cloud earned $4.99 billion (compared to $3.44 billion last year).
If you’d like to listen to the earnings call, you can watch and listen to the video above.