Google’s financial report; 11% revenue growth and $19 billion net profit

Alphabet, Google’s parent company, Financial report of the third quarter of 2023 published The income of the technology giant between the months of July and September (July to September) was 77 billion dollars, which is 11% more than the income of 69.1 billion dollars in the same period last year.

Operating income reached 21.34 billion dollars and net profit reached 19.69 billion dollars with a significant increase compared to 13.91 billion dollars in the same period last year. In the second quarter of this year, Alphabet’s total revenue and net profit were 74.6 billion dollars and 18.37 billion dollars, respectively.

Sundar Pichai, CEO of Alphabet, expressed satisfaction with his company’s financial performance as well as “artificial intelligence-based innovations” in products such as search, YouTube, and the Pixel phone. “We continue to focus on making AI more useful for everyone,” he said. There have been exciting developments and many more to come.”

Among the details of Google’s new report, the company’s revenue from YouTube advertising is $7.95 billion (compared to $7.07 billion last year) and $8.41 billion from Google Cloud (compared to $6.87 billion). Cited. Also, revenue from hardware, Google Play, and YouTube’s non-advertising revenues have reached $8.34 billion from $6.9 billion in the same period last year.

Although the revenue of Alphabet’s ambitious projects (known as Other Bets) increased from $209 million in the same period last year to $297 million; But this division, which has sub-categories such as self-driving car business Waymo and biotechnology division Calico, is still loss-making with the expense of 1.19 billion dollars.

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