Alphabet, Google’s parent company, reported a profit of $18.5B in its Q2 earnings statement after market close on Tuesday. It reported earnings of $27.26 per share from total revenue of $61.9B. That's a profit increase of 166% YoY and a 62% increase in revenue.
- Alphabet saw impressive growth in its advertising, reporting Google Ad revenue at $50.44B, a 69% increase YoY.
- YouTube reported revenue of $7B, an 84% increase YoY.
- YouTube reported its YouTube Shorts – videos of 60 seconds or less – have surpassed 15 billion daily views globally, a 131% increase from Q1, which was reported at 6.5 billion.
- YouTube Shorts is Google's TikTok equivalent.
- Google Cloud earned $4.6B in revenue, a 54% increase YoY.
- It reported an operating loss of $591M, a 58% decrease compared to $1.4B this time last year.
- Following the report, Alphabet’s shares rose ~3% in after-hours trading.