YouTube Q3 Ad Revenue Beats Forecasts, Rising 12% to $8.92 Billion

variety.com:

Todd Spangler NY Digital Editor YouTube generated a cool $8.92 billion in advertising revenue for the third quarter of 2024 as the world’s biggest video-streaming platform continues to turn in double-digit growth on already big numbers.

In addition, YouTube’s total ads and subscription revenue surpassed $50 billion over the past four quarters for the first time, according to Alphabet and Google CEO Sundar Pichai.

That averages out to more than $12.5 billion in revenue per quarter. The internet company doesn’t regularly report total quarterly revenue for YouTube.

YouTube’s ad revenue, reported as part of parent Alphabet’s Q3 earnings, was up 12.2% year over year. Wall Street analysts had forecast YouTube advertising revenue coming in at $8.89 billion for the quarter, according to StreetAccount.