YouTube brought in $7.34bn (£6bn) in advertising revenue in the second financial quarter of 2022, according to a new earnings report from parent company Alphabet.
The report showed revenue increased by 4%, from just over $7bn (£6.8bn) in the same period of 2021.
Alphabet reported revenue of 69.68 billion (£57.8 billion) for the second quarter, up 13% from 61.8 billion (£51.2 billion) in the second quarter. ‘last year.
The amount was just short of an analyst estimate of 69.9bn (£58bn) for the second quarter.
Sundar Pichai, CEO of Alphabet and Google, said, “In the second quarter, our performance was driven by search and cloud.
“The investments we have made over the years in AI and IT help make our services particularly valuable to consumers and highly effective for businesses of all sizes.
“As we refine our focus, we will continue to invest responsibly in deep computing for the long term.”
Ruth Porat, chief financial officer of Alphabet and Google, said: “Our continued investments to support long-term growth are reflected in our strong performance in the second quarter, with revenue of $69.7 billion ($57.8 billion) in the quarter, up 13% year-on-year or 16% at constant exchange rates.
“We are focused on responsible capital allocation to support our growth opportunities.”
