YouTube reported $8.92 billion in ad revenue for Q3 2024, marking consistent double-digit growth.
Over the past four quarters, total revenue from ads and subscriptions exceeded $50 billion, averaging more than $12.5 billion per quarter, according to Google CEO Sundar Pichai.
YouTube’s ad revenue, reported as part of parent Alphabet’s Q3 earnings, was up 12.2% year over year. Wall Street analysts had forecast YouTube advertising revenue coming in at $8.89 billion for the quarter, according to StreetAccount. The ad-revenue figures don’t include subscription revenue from YouTube TV, YouTube Premium, YouTube Music Premium or NFL Sunday Ticket.
YouTube saw a 20% year-over-year increase in ad commitments after its recent upfront, noted Philipp Schindler, Google’s chief business officer, on the Q3 earnings call.
Schindler highlighted that the Paris Olympics content on YouTube reached 12 billion views, with 35% of watch time on TV screens.
Alphabet overall posted $88.27 billion in revenue (up 15%) and $26.3 billion in net income (up 34%), exceeding Wall Street’s estimates of $86.3 billion in revenue and an EPS of $1.85, reaching $2.12.
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