Google parent Alphabet made a whopping $61.9 billion last quarter
After several quarters of continuallygrowingrevenue, Google's parent company Alphabet announced today that it made $61.9 billion in Q2 2021. That's a jump of 62 percent from the same period last year, when the organization's revenue dipped due to the onset of the pandemic. Last quarter, Alphabet posted $55.3 billion in revenue. Clearly, the company has long recovered from the slump it faced from the pandemic last year.
Like it did last quarter, Alphabet's net income rose significantly, from about $7 billion in Q2 2020 to $18.5 billion in the same period this year. Most of its money continues to come from advertising and search, while Google Cloud and its "Other Bets" division saw modest revenue growth as well.
CEO Sundar Pichai said in a statement that "a rising tide of online activity in many parts of the world" and "long-term investments in AI and Google Cloud" drove the results.
The company is hosting an earnings call at 4:30pm ET today on its YouTube channel, where CEO Sundar Pichai will make a statement regarding the results. We'll update this story with more details as we get it.
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[original story: Engadget]