YouTube, the largest video-streaming network in the world, made an astounding $8.92 billion in advertising income in the third quarter of 2024, a double-digit rise from previously impressive figures.
According to Alphabet and Google CEO Sundar Pichai, YouTube’s total ad and subscription revenue for the last four quarters has reached $50 billion for the first time. On a quarterly average, those revenues would be almost $12.5 billion. The online business doesn’t reveal all of its quarterly earnings.
YouTube’s ad revenue, which increased 12.2% annually, was included in Alphabet’s Q3 results. According to StreetAccount, Wall Street analysts predicted that YouTube’s ad income for the quarter would come to $8.89 billion.
YouTube TV, YouTube Premium, YouTube Music Premium, and NFL subscription revenue are not included in the ad revenue calculations. Ticket for Sunday
According to Philipp Schindler, Google’s chief commercial officer, YouTube recently concluded its upfront, with ad commitments up 20% year over year, during the Q3 earnings call. Additionally, he informed investors that 850 million unique people saw a video from the 2024 Summer Olympics in Paris, with 12 billion views on YouTube, 35% of that time spent on TV screens.
Alphabet reported $2.12 earnings per share, with total revenue of $88.27 billion (up 15%) and net income of $26.3 billion (up 34%). According to LSEG, that greatly exceeds Wall Street’s estimates of $86.3 billion in revenue and $1.85 EPS.
Pichai’s prepared remarks highlighted, “The company’s momentum is extraordinary.” Our commitment to innovation, long-term focus, and investment in AI is demonstrated by the benefits our customers and partners receive from our AI solutions.
