October 27, 2021
Google’s advertising revenue soared 41% to $53.1 billion in the third quarter.
Through its search engine, it sold more internet ads across the Web, thanks to its video service YouTube and various partnerships.
The jump in advertising revenue has pushed Alphabet’s total revenue to $65.1 billion, above the average estimate of $63.3 billion that analysts had forecast.
While other platforms, such as Snap and Facebook, complained about Apple’s move and its impact on their third-quarter sales, analysts noted that Google was less affected than its contemporaries because its search engine collects data on user interests, which are therefore considered valuable to advertisers, as Collin Colburn, an analyst at technology consultancy Forrester, puts it: “They are almost completely immune to Apple’s changes.”
Commenting on the development and full return of brick and mortar stores across the country, Google’s Chief Business Officer Philipp Schindler said: “The consumer shift to digital is real and will continue even after we start seeing people return to stores. The underlying takeaway is that people want more choice, they want more information, more flexibility, and we don’t see this reversing.”
For more information, read the original story in Reuters.
