Sunday, 26 September 2021 04:40 GMT

Alphabet Inc. beats all-time record with $61.9 billion revenue


(MENAFN- NewsBytes) Google's parent company Alphabet Inc. has logged $61.9 billion in revenue and $27.26 in earnings per share during the second quarter ending June 30, 2021. The company's net income was recorded at $18.5 billion while net income expansion stood at 166 percent. This is arguably the highest revenue logged by the tech giant. Here are more details.

In this article
  • Google drives Alphabet Inc. with $14 billion year-on-year revenue increase
  • Google Cloud clocked greater growth than Microsoft's Azure
  • YouTube reports $7 billion revenue with 84 percent year-on-year increase
  • Alphabet's Other Bets post losses of $1.4 billion
Data Google drives Alphabet Inc. with $14 billion year-on-year revenue increase

Google appears to be the primary driving force behind Alphabet's all-time record revenue this quarter, with a $14 billion year-on-year rise taking its revenue to $35.8 billion. The figure also happens to be around $4 billion higher than the previous quarter.

Better than expected Google Cloud clocked greater growth than Microsoft's Azure

Google shot well past the forecasted earnings of $56 billion and $19.14 in earnings per share. Notably, Google Cloud clocked a revenue of $4.63 billion, up 54 percent from last year. This growth is more than what Microsoft posted for its Azure Cloud solution. Google Cloud also slashed its operating losses from $1.43 billion in Q2 2020 to $591 million this quarter.

Details YouTube reports $7 billion revenue with 84 percent year-on-year increase

Alphabet's other big subsidiary, YouTube, reported a revenue of $7 billion, up by 84 percent from last year. Separately, YouTube revealed that its short video feature called YouTube Shorts rivaling TikTok and Instagram Reels "surpassed 15 billion global daily views". This is a colossal 131 percent increase from the 6.5 billion global daily views that YouTube Shorts raked in during March.

Losses Alphabet's Other Bets post losses of $1.4 billion

Surprisingly, Alphabet's wing responsible for quirky experimental projects called Other Bets posted an increase in revenue this quarter, although losses tagged along. The company posited $192 million in revenue up from $148 million a year ago. However, the company's experimental endeavors saw it lose $1.4 billion this quarter, up from $1.1 billion a year ago.

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