Both Google (Alphabet) [PDF] and Bing (Microsoft) [HTML] reported earnings last night and both showed that their ad revenues grew. Google Ad revenue was up 3.3%, with overall revenue up 7%. Microsoft Advertising revenue was up 8% with overall revenue up 8% as well.
GOOG Earnings
Google seems to be going in the right direction both in terms of overall revenue and ad revenue now. With two quarters ago being down and then last quarter being flat, we are now finally showing growth.
Google was up 7% in overall revenue and 3.3% in advertising revenue year-over-year and Google advertising revenue quarter-over-quarter was up over 6.5%. Google is almost at its all-time high for quarterly revenue, ad revenue and profit being down less than 1% for revenue, down 5% for ad revenue and down 0.2% for profit. I guess cutting a huge number of jobs helped them get back to profit numbers from Q4 2021.
Here is a chart plotting Google’s overall revenue, then ad revenue and then profit over the past several quarters:
Here is the snippet from the earnings report:
Sundar Pichai, CEO of Alphabet and Google, said: “There’s exciting momentum across our products and the
company, which drove strong results this quarter. Our continued leadership in AI and our excellence in engineering and innovation are driving the next evolution of Search, and improving all our services. With fifteen products that each serve half a billion people, and six that serve over two billion each, we have so many opportunities to deliver on our mission.”
Ruth Porat, CFO of Alphabet and Google, said: “Our financial results reflect continued resilience in Search, with an acceleration of revenue growth in both Search and YouTube, as well as momentum in Cloud. We continue investing for growth, while prioritizing our efforts to durably reengineer our cost base company-wide and create capacity to deliver sustainable value for the long term.” Note, Ruth Porat it changing roles in the company, no longer CFO but now President and Chief Investment Officer.