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Google’s Parent Company Reports $61 Billion Revenue in Q2 2021

Alphabet, the company that owns Google has posted its earnings report for the second quarter of 2021 which ended in June. The tech giant’s revenue reached $61.88 billion for the quarter, exceeding Wall Street’s expectations of $56.23 billion.

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This revenue figure was a 62% increase over the same quarter last year. Google’s ad revenue, in particular, went up 69% compared to the second quarter of 2020. Likewise, the company’s net income rose to reach $18 billion, which was more than double compared to last year ($7 billion).

Sundar Pichai, the CEO of Google and Alphabet commented on these soaring numbers saying:

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.

The company’s stocks went up by 2% after hours, and if all these gains hold up, it will boost Google’s market cap to $2 trillion.

In addition to the ad revenue and stocks, Alphabet’s cloud computing business also reported significant growth. The revenue from the cloud computing business increased by 54% compared to last year.

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