Google reported a better than expected revenue of $US74.6 billion, up 7%, for the June quarter, reflecting improving advertising revenue.
This is the second quarter in a row that advertising revenue has lifted, following weaker growth in 2022. It follows an announcement in January to cut 12,000 jobs, a reaction to over hiring during the post pandemic lockdown boom.
YouTube advertising was $7.66 billion in the June quarter, up from $7.34 billion in the same three months of 2022.
Google network advertising was $58.14 billion, up from $56.28 billion.
Google says the financial results reflect an acceleration of revenue growth in both search and YouTube, as well as momentum in cloud.
“There’s exciting momentum across our products and the company, which drove strong results this quarter,” says CEO Sundar Pichai.
“Our continued leadership in AI and our excellence in engineering and innovation are driving the next evolution of Search, and improving all our services.
“With fifteen products that each serve half a billion people, and six that serve over two billion each, we have so many opportunities to deliver on our mission.”
June quarter numbers:
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