YouTube Ad Revenue Climbs 4% As Parent Alphabet Smashes Wall Street Q2 Estimates
deadline.comYouTube posted 4% advertising revenue growth in the second quarter as parent Alphabet rode momentum in search and cloud services to smash Wall Street analysts’ expectations.
The tech giant reported diluted earnings per share of $1.44 and total revenue of $74.6 billion, compared with consensus forecasts for $1.20 and $65.4 billion, respectively.
YouTube’s ad take came to $7.665 billion. The video giant changed leadership earlier this year, with Susan Wojcicki stepping down after 9 years as CEO and passing the baton to veteran exec Neil Mohan.
The upbeat quarterly report reverses more discouraging results of late, including an unprecedented dip in ad results at YouTube, which was seen as an ominous portent for other players navigating a choppy ad market.
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