Google Has a Monster Quarter of its Own

Posted on October 29, 2020 by Paul Thurrott in Google with 2 Comments

Google’s parent company Alphabet announced that it earned net income of $7 billion on revenues of $40.5 billion for the quarter ending September 30. That revenue figure is a gain of 20 percent year-over-year.

“We had a strong quarter, consistent with the broader online environment,” Google and Alphabet CEO Sundar Pichai said. “It’s also a testament to the deep investments we’ve made in AI and other technologies, to deliver services that people turn to for help, in moments big and small.”

What it’s a testament to is advertising: Google CFO Ruth Porat credited the firm’s growth on “an increase in advertiser spend in Search and YouTube as well as continued strength in Google Cloud and Play,” and 83.4 percent of Google’s revenues were derived from advertising.

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Comments (2)

2 responses to “Google Has a Monster Quarter of its Own”

  1. codymesh

    greatest global recession for everyone, except for the megacorporations.


    • bkkcanuck

      In reply to codymesh:

      There are always winners and losers in every change in the economy.... economy goes up, some win, others lose.... economy goes down, some lose, others win (in the old economy it would be more work for lawyers, repossessors, liquidators)... nothing new - just the fact that many are staying and working from home rather than going out means new internet based businesses and those that supply hardware for that are naturally going to do better than your brick and mortar. (it really just accelerates what was already happening).


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