Google shared full details of its Q3 2022 earnings results and there were quite a few interesting stats and metrics to take away from the report. One such metric was its overall ad revenue. Arguably the core of Google’s business, ad revenue was up when it came to year-by-year comparison for the company. Unfortunately, it was down quarter-to-quarter in addition to other misses such as total revenue and EPS against estimates.
The Q3 2022 earnings results for Google were released on the company’s investor relations website on October 25, 2022. According to the company’s reporting, it generated about $54.48 billion in total advertising revenue for the entire quarter. This was up from Q3 2021, which finished with $53.13 billion. It was not, however, able to beat ad revenues from Q2 2022, which finished over $56 billion in ad revenue.
One notable metric in Google’s ad revenue for Q3 2022 was that of YouTube ad revenue. YouTube ads were able to draw in $7.07 billion in ad revenue. However, this was down year-over-year with Google having put up $7.2 billion in Q3 2021.
The company is currently planning new improvements to its Cloud and search technologies, as well as new monetization strategies for things like YouTube Shorts.
“Product announcements we’ve made in just the past month alone have shown that very clearly, including significant improvements to both Search and Cloud, powered by AI, and new ways to monetize YouTube Shorts,” Google CEO Sundar Pichai shared alongside the results. “We are focused on both investing responsibly for the long term and being responsive to the economic environment.”
Google continues to be a dominant force in search, Cloud, and media technologies, so it’s not likely to suffer too much from the bad quarter as it refocuses and reprioritizes. Stay tuned for further earnings results throughout the tech industry, right here at Shacknews.