Skip to main content

Alphabet reports $65B in revenue amid Google's ongoing legal battles

Google's revenue grew only slightly from last quarter.

What you need to know

  • Alphabet releases its Q3 2021 financial earnings report.
  • The company made more than $65 billion in revenue, up 41% from the same quarter last year.
  • Overall revenues grew only slightly from Q2, which brought in $61 billion in revenue.

Alphabet, Google's parent company, announced its Q3 2021 financial earnings on Tuesday, reporting revenue of more than $65 billion.

That represents a growth of 41% compared to the same quarter last year, which raked in just over $46 billion. As usual, those numbers were driven by ads, primarily with Google Search, while YouTube contributed more than $7 billion.

Compared to last quarter, growth seems fairly stagnant, with much of Google's divisions growing in revenue only slightly. During the earnings call, there were questions about whether iOS 14's privacy shanges had a negative effect on Googe's revenue for its services. However, according to Google CFO, Ruth Porat, the changes only had a "modest impact" on YouTube's revenues.

Additionally, Google CEO Sunday Pichai notes that YouTube still has a lot of potential to grow, particularly with Shorts, even if it's not immediately apparent in the face of tough competition like TikTok and Snapchat.

There's obviously newer opportunities such as shopping which we are investing in, and Shorts represents an additional early but important area for us from an investment and growth standpoint. So I feel the fundamentals of the platform are strong. With the long-term view, I see this as an area where we have more upside, and so we'll continue on investments with that in mind.

Still, it's impressive that Google continues to increase its revenue, which has just recorded its fifth record-breaking quarter in a row, despite its ongoing legal troubles.

Notably, the Google Cloud business continues to lose money for the company, though it raked in more revenue than last year. However, Porat remains "pleased with the trends we are seeing in GCP, or customer wins."

At the moment, Google is facing a bevy of antitrust lawsuits over its anticompetitive practices as they relate to its grip on app distribution on the best Android phones, as well as its dominance in the digital ads space.

Amid heightened scrutiny over its practices, the company recently announced Play Store fee changes that will see lower service fees for many developers, although the company was mum on how that would affect its revenues going forward.

Of course, Pichai took a moment to call out its latest Google Pixel 6, which the company continues to ramp up marketing for. Google lumps Pixel and hardware sales under "other" on its reports, so it's hard to say where sales are at. However, Porat expects "ongoing drivers of revenue growth to be hardware due to the benefit from the holiday selling season and inclusion of Fitbit, as well as YouTube subscriptions."

Source: androidcentral

Popular posts from this blog

Apple Releases First Public Beta of tvOS 17

Apple today seeded the first beta of the upcoming tvOS 17 update to its public beta testing group, allowing the general public to download and test the update ahead of its September launch. Public beta testers can download the tvOS 17 beta by opening up the Settings app on Apple TV , choosing the Software Updates section under System, and then toggling on the Get Public Beta Updates option. Signing up on Apple's public beta website is also required. tvOS 17 adds FaceTime to the ‌Apple TV‌, with an iPhone or iPad serving as the camera. The ‌FaceTime‌ interface shows up on the bigger display of the TV, and Center Stage keeps you front and center as you move around the room. There's even a Split View option so you can use ‌FaceTime‌ while watching TV or playing a game on the other part of the screen. There's a revamped Control Center that makes it quicker to get to key settings and information without needing to go into the Settings app, plus it supports useful sho

Apple Releases macOS Ventura 13.4.1 With Security Fixes

Apple today released macOS Ventura 13.4, a minor update for the ‌macOS Ventura‌ operating system that was released last October. ‌macOS Ventura‌ 13.4.1 comes more than a month after the launch of macOS Ventura 13.4 . The ‌‌‌‌‌macOS Ventura‌‌‌‌‌ 13.4.1 update can be downloaded for free on all eligible Macs using the Software Update section of System Settings. According to Apple's release notes, the update provides important security fixes and is recommended for all users. Apple has also released macOS 11.7.8 and macOS 12.6.7 security updates for those who are unable to run Ventura. Related Roundup: macOS Ventura Related Forum: macOS Ventura This article, " Apple Releases macOS Ventura 13.4.1 With Security Fixes " first appeared on Discuss this article in our forums Source: TechRadar

Apple Says 128GB iPhone 15 Pro Limited to 1080p ProRes Video Recording Unless External Storage Connected

ProRes video recording remains limited to 1080p quality at 30 frames per second on the 128GB model of the iPhone 15 Pro, unless the device is recording directly to a connected external storage drive , according to Apple. On the 256GB and higher iPhone 15 Pro and iPhone 15 Pro Max, ProRes video recording is supported in up to 4K quality at 60 frames per second to both internal storage and external storage. Apple does not mention this information on the iPhone 15 Pro's tech specs page on its website, but the limitation is listed when comparing the iPhone 15 Pro to another iPhone model in the Apple Store app, as seen in the screenshot below. The same limitation applied to iPhone 13 Pro and iPhone 14 Pro models with 128GB of storage, but those devices cannot record ProRes video to external storage, so at least iPhone 15 Pro users have that option this time around. The limitation does not apply to the iPhone 15 Pro Max, as that model starts with 256GB of storage. ProRes video fi

Relay FM Launches Fundraiser for St. Jude Children's Research Hospital

September is Childhood Cancer Awareness Month, and in recognition of this important cause, well-known podcast network Relay FM has launched its annual fundraiser for St. Jude Children's Research Hospital , located in Memphis, Tennessee. Since 2019, the Relay FM community has raised over $2.2 million for the hospital. St. Jude's mission statement: The mission of St. Jude Children's Research Hospital is to advance cures, and means of prevention, for pediatric catastrophic diseases through research and treatment. Consistent with the vision of our founder Danny Thomas, no child is denied treatment based on race, religion or a family's ability to pay. Relay FM has multiple Apple-related podcasts, such as Connected , hosted by Stephen Hackett, Myke Hurley, and Federico Viticci. Hackett's son received treatment at St. Jude as an infant, so this initiative is near and dear to him . Donations can be made on the Relay FM for St. Jude website , with rewards such as Relay