Google achieved strong sales growth in the second quarter, given its position as the most powerful advertising engine in the world, and the Internet giant has benefited from the reopenings of the uneven economy after the pandemic, catering to the needs of home users who spend more time on screens, as well as consumers who are venturing into shopping and traveling.
According to Arab Net, second-quarter sales of Alphabet Inc., the parent company of Google, rose above Wall Street estimates, due to bloated advertising from retail marketers keen to encourage consumer spending from Through e-commerce on YouTube and physically back in stores.
Google said in a statement that revenue, excluding payments to distribution partners, amounted to about $51 billion in the period ending June 30, while analysts' expectations were around 46.1 billion. billion dollars, according to data compiled by Bloomberg, and viewed by Al-Arabiya.net.
After a slowdown in digital advertising a year ago during the coronavirus pandemic, Google's advertising business has rebounded, while the increase in digital ad sales in the quarter mirrored similar results reported last week from Before my social networking company Twitter and Snap.
Google, the leader in digital advertising, is close to ending the year with about 29% of the global market, according to data analytics firm EMarketer.
Alphabet's chief financial officer, Ruth Porat, said in the statement that sales growth reflected "high consumer activity on the Internet and broad strength in advertiser spending."
In a conference call after the results, business director Philip Schindler said retail was by far the largest contributor to the rise in advertising revenue, with travel segments growing. And financial services, media and entertainment also during the quarter.
Alphabet CEO Sundar Pichai has targeted e-commerce as a key growth area for the internet giant, deepening his company's relationship with Shopify Inc, ramping up its commercial efforts as it continues Hunt for Amazon.com Inc.
The online search giant generated $35.8 billion in sales in the second quarter, versus analyst estimates of $32.2 billion on average.
YouTube's ad revenue jumped 84% to $7 billion, versus analyst estimates of $6.33 billion.