YouTube Q3 Ad Sales Jump 12.5% to Nearly $8 Billion, Alphabet Beats Estimates
variety.comTodd Spangler NY Digital Editor Internet video giant YouTube larded its coffers with $7.95 billion in ad revenue for third quarter of 2023, representing a 12.5% year-over-year increase, as parent Alphabet overall topped Wall Street forecasts.
Analysts had projected YouTube advertising revenue to come in at $7.81 billion for the quarter, per FactSet. The stronger-than-expected results come after YouTube fell short of expectations in the year-ago period, when ad revenue dropped 1.9%.
Alphabet reported $76.69 billion in total revenue and net income of $19.69 billion ($1.55 per share) for the period ending Sept.
30, reflecting a healthy bump in Google‘s core digital ads business. Wall Street consensus estimates were for $75.97 billion in revenue and earnings per share of $1.45, per to Refinitiv data.
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