Alphabet today announced Q3 2021 earnings with $65.11 billion in revenue. These numbers range from July to September, and reflect the increasing return to normal in some industries.
Revenue is up 41% from $46.2 billion in Q3 2020, with operating income at $21 billion and net income of $18.94 billion for this quarter. For comparison, Alphabet reported $61.9 billion in revenue and $18.5 billion in net income last quarter.
“Five years ago, I laid out our vision to become an AI-first company. This quarter’s results show how our investments there are enabling us to build more helpful products for people and our partners. Ongoing improvements to Search, and the new Pixel 6, are great examples. And as the digital transformation and shift to hybrid work continue, our Cloud services are helping organizations collaborate and stay secure.”
Sundar Pichai, CEO of Google and Alphabet
“Our consistent investments to support long-term growth are reflected in strong financial performance, with revenues of $65.1 billion in the quarter. We continued to deliver across our business by providing helpful and valuable experiences for both consumers and our partners.”
Ruth Porat, CFO of Google and Alphabet
In Q3 2021, YouTube ad revenue was $7.2 billion (versus $5.04 billion a year ago), while Cloud reported $4.99 billion (compared to $3.44 billion in Q3 2020).
“Google other revenues” — which includes hardware, Play Store, and non-advertising YouTube revenues — reported $6.75 billion, compared to $5.48 billion the same quarter last year.
The closely-watched “Other Bets” continues to lose money. It reported $182 million revenue primarily generated by Verily and Fiber from $178 million in Q3 of 2020. However, it lost $1.29 billion compared to $1.1 billion in the same quarter of last year.
As usual, Alphabet will hold its Q3 2021 earnings call with investors 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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