Google’s parent company Alphabet reported revenue of US$40.5 billion in the third quarter, up 20%, beating estimates by analysts.
Advertising revenue for Google was US$33.9 billion, slightly ahead of forecasts and up from US$29 billion in the same three months last year.
Emarketer analyst Nicoled Perrin says the results are strong for the tech company.
"Alphabet continues to show strong growth in ad revenues, even as CPCs were down again year-over-year, showing strong continued growth in impressions and paid clicks,” Perrin says.
“On the cost side, TAC (traffic acquisition costs) is continuing to stabilise, which is a good sign for the bottom line of the ads business."
According to Emarketer, YouTube’s advertising revenue will grow by nearly 20% this year to reach US$11.4 billion globally.
“I am extremely pleased with the progress we made across the board in the third quarter,” says Google CEO Sundar Pichai.
“From our recent advancements in search and quantum computing to our strong revenue growth driven by mobile search, YouTube and Cloud. We’re focused on providing the most helpful services to our users and partners, and we see many opportunities ahead.”
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