Top earners for Google this time are Search and Cloud, where both garnered more than $46 billion in revenue. Though the year-on-year growth had fallen, Google did a much better job than other tech companies amidst the economic headwinds.
Google’s Q2 2022 Earnings Report
Just a couple of days before the launch of its new Pixel 6a, Google released its Q2 2022 earnings report – revealing the company numbers for investors. As per it, Google drew revenue of $70 million in the last quarter, which is slightly up from the same period last year. Although, the year-on-year growth has fallen to just 13%, compared to the 62% from Q2 2021. Yet, it’s far better than other tech companies making losses due to economic slowdown. Also, Alphabet’s earnings bet analysts’ estimates for the second quarter, leading to rising in share price during the after-market trading hours. And for another year, Google Search and Cloud continued to be the major drivers of income growth, with Cloud garnering $6.2 billion while Search brought in $40 billion in revenue. Google’s advertising department reported a whopping $56 billion revenue (including $7.3 billion from YouTube), but the VC wing – Other Bets, continues to lose make negative earnings – losing $193 million last quarter, marking a $1.7 billion loss. Even then, Google noted a net income of $16 billion and an operating income of $19 billion – down from $18.5 billion in last year’s Q2. Talking at the press meeting, Alphabet’s CEO Sundar Pichai said he was pleased to see the employees coming back to the office. Also, he talked about the company’s investments in AI computing and teased the future AR gadgets.
