Published , by TJ Denzer
Published , by TJ Denzer
With tech companies releasing earnings results on their fiscal quarters, Google was one of the latest major companies to report. It just wrapped up Q2 2023 and came out with a huge win on a variety of fronts, including YouTube ad revenue. While the company was good for beats on overall revenue and earnings-per-share (EPS) versus estimates, it also edged out estimates on YouTube ads, with this particular metric contributing significantly to Google’s latest quarter.
Google reported its Q2 2023 earnings results via its investor relations website on July 25, 2023. While the company put up $75.6 billion in revenue and $1.44 per share in EPS, it also put up $7.665 billion solely in YouTube ad revenue. This was up from expectations that called for about $7.43 billion, according to Street Account. While it wasn’t an enormous overachievement, it was still a winning contributor to another solid quarter for Google.
YouTube has been on a role in Google’s fiscal 2023. The video platform’s ad revenue was up by just under a billion dollars from the company’s Q1 2023 reporting, in which YouTube ads delivered a revenue of about $6.69 billion. The company has capitalized on a wide variety of events this year, including Twitch stumbling over itself with various unpopular policies such as self-promotion for creators. YouTube has also been preparing to follow Netflix’s march into gaming on some level, prepping “YouTube Playables” that will allow users to play games on the mobile and PC versions of YouTube.
With YouTube continuing to be one of the most popular video platforms in the world, it looks like Google can continue to count on it to help contribute to successful quarters. Stay tuned as we continue to report on tech companies as they close out their latest fiscal quarters.