If you thought, during the start of the pandemic, that Google’s profits would be adversely affected, you’d have been correct.
Right around a year ago, Alphabet (Google’s parent company) posted it’s first revenue decline in the company’s history.
And while the general consensus is that, since then, businesses have been rebounding (especially since restrictions have been easing), forecasters weren’t expecting to see such healthy profits for Q2 2021.
It seems that Google’s earnings have come a long way since the start of the pandemic. A few days ago (Tuesday, to be specific), Google’s earnings were posted.
A 62% Jump from Q2 2020
Alphabet reported revenue of $61.9 billion for Q2, which is a 62% jump from the same quarter last year, and far higher than what analysts had projected. The company’s profits were $18.5 billion, which was also quite impressive.
Growth Attributed to Advertising and Diversification
If you know a lot about the digital marketing world, you know that Google gets a good portion of its revenue from ad-related endeavors, such as it’s pay-per-click platform (Adwords), it’s publisher networks, and YouTube ads.
In fact, from the year prior, Google’s core advertising business grew 69%, to %50.4 billion. YouTube ad revenue grew an impressive 84%, to $7 billion.
One way that Google has been diversifying is through artificial intelligence. Another way Google has been diversifying is through it’s cloud computing endeavors, which has grown 54% to 4.6 billion.
This growth, particularly in Google’s advertising space, confirms that there are many businesses who are looking to use one of Google’s advertising platforms. Perhaps there’s something in this for you.
While advertising can be risky, there are principles that, when followed, make it a predictably profitable endeavor. That’s beyond the scope of this article, but I hope that, if you’re looking to grow your business, you consider your advertising options. They don’t have to include a Google platform.
Source: CNN
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