Alphabet Achieves Double-Digit Earnings Again
This article is published in collaboration with Statista
by Anna Fleck
Google’s parent company Alphabet posted a revenue growth of 11 percent on Tuesday, as part of their Q3 2023 earnings report. This marks the first time the company has reached double-digits in year-on-year growth since Q2 2022.
Alphabet saw growth in advertising revenue, reporting $59.65 billion, up from $54.48 billion a year ago. Figures for YouTube Shorts also drastically improved, with the social media platform's short-form video feature receiving 70 billion views per day, up from more than 50 billion views per day at the start of the year. As far as cloud revenue goes, the segment did worse than expected, bringing in $8.41 billion instead of a forecast $8.64 billion, although this is still a 22 percent increase from the same time last year.
Alphabet also reported that 182,381 employees currently work there, marking a 2.4 percent decrease year-over-year following layoffs earlier in 2023.
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