Google’s parent company, Alphabet, announced its Q2 2021 earnings with $61.88 billion USD (roughly $77.85 billion CAD) in revenue.
Q2 ranged from April to June for Google, which saw a 62 percent increase in revenue compared to Q2 2020. The company posted an operating income of $19.4 billion USD (roughly $24.4 billion CAD) and net income of $18.5 billion USD (about $23.28 billion CAD).
Both revenue and net income were up compared to Q1 2021 as well, which saw the company pull in $55.3 billion USD and $17.9 billion USD respectively.
“In Q2, there was a rising tide of online activity in many parts of the world, and we’re proud that our services helped so many consumers and businesses. Our long-term investments in AI and Google Cloud are helping us drive significant improvements in everyone’s digital experience,” said Google and Alphabet CEO Sundar Pichai in the company’s earnings release.
YouTube ad revenue hit $7 billion USD (approximately 8.8 billion CAD), up from $3.81 billion a year ago. Google’s Cloud unit pulled in $4.6 billion USD.
Google’s other revenues, which includes hardware, Play Store and non-advertising YouTube revenues, reported $6.6 billion USD, up from $5.12 billion year-over-year.
The company’s ‘Other Bets’ segment continues to lose money, reporting just $192 million USD in revenue while losing $1.4 billion USD.