Alphabet today announced Q2 2021 earnings with $61.88 billion in revenue. These numbers range from April to June, and reflect an increasing return to normal in some industries.
Revenue is up 62% from $38.3 billion in Q2 2020, with operating income at $19.4 billion and net income of $18.5 billion for this quarter. For comparison, Alphabet reported $55.3 billion in revenue and $17.9 billion in net income last quarter for the start of this year. The stock is up in after-hours trading after beating estimates.
“In Q2, there was a rising tide of online activity in many parts of the world, and we’re proud that our services helped so many consumers and businesses. Our long-term investments in AI and Google Cloud are helping us drive significant improvements in everyone’s digital experience.”
Sundar Pichai, CEO of Google and Alphabet
Our strong second quarter revenues of $61.9 billion reflect elevated consumer online activity and broad-based strength in advertiser spend. Again, we benefited from excellent execution across the board by our teams.”
Ruth Porat, CFO of Google and Alphabet
In Q2 2021, YouTube ad revenue was $7 billion (versus $3.81 billion a year ago), while Cloud reported $4.6 billion (compared to $3 billion in Q2 2020).
“Google other revenues” — which includes hardware, Play Store, and non-advertising YouTube revenues — reported $6.6 billion, compared to $5.12 billion the same quarter last year.
The closely-watched “Other Bets” continues to lose money. It reported $192 million revenue primarily generated by Verily and Fiber from $148 million in Q2 of 2020. However, it lost $1.4 billion compared to $1.12 billion in the same quarter of last year.
As usual, Alphabet will hold its Q2 2021 earnings call with investors and members of the press to further break down numbers from the earnings release. You can follow along via the livestream below and we’ll have coverage of any notable tidbits the company reveals.
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