Alphabet, Google and YouTube see growth in revenue in Q3 2020

New Ideas in MarketingEssential news for marketers, summarised by YouGov
October 30, 2020, 3:06 AM UTC

Advertisers have been credited with reactivating their budgets in the third quarter.

As per its call with investors, Q3 2020 saw YouTube raking in $5 billion in ad revenue. Alphabet, Google’s parent company, has recorded a 14% revenue growth as compared to last in the quarter. YouTube currently has 30 million music and premium paid subscribers.

Accounting for free trials, this number reaches 35 million. From $34 billion in 2019, Google’s ad division revenue has gone up to $37.1 billion. Google’s net income has improved as well to reach $11.24 billion, from $7.06 billion last year.

The company’s search segment has brought in $26.3 billion in revenue with its cloud division generating $3.44 billion. Google’s current quarter report is in contrast to Q2 2020, which saw revenue decline for the first time.  

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