YouTube Ad Haul Powers Alphabet Q3 Results

deadline.com:

Advertising revenue at YouTube reflected the video giant’s continued momentum, rising 12% in the third quarter compared with the year-ago period.

The haul of $8.92 billion in the period ended September 30 came as many ad sellers, particularly traditional media companies reliant on legacy TV, have been reporting flat or low-single-digit growth.

Most media companies will be reporting quarterly numbers over the next two weeks, with YouTube now setting a high bar for ad growth.

The performance of YouTube helped its corporate parent, Alphabet, post total revenue growth of 15%, reaching $88.3 billion. Earnings per share jumped to $2.12 from $1.55 in the year-earlier quarter.