Advertising revenue at Google, as reported by parent Alphabet, has climbed back out of the coronavirus economic trough.
Google advertising revenue was $US37.095 billion for the third quarter, up from $US33.796 billion in the same three months last year.
The result was a sharp contrast to the digital giant's frst ad decline in July.
“We had a strong quarter, consistent with the broader online environment,” says CEO Sundar Pichai.
“It’s also a testament to the deep investments we’ve made in AI and other technologies, to deliver services that people turn to for help, in moments big and small.”
eMarketer principal analyst Nicole Perrin says Google's ad revenues across search, YouTube, and Network Members outperformed expectation in the third quarter.
"That was especially true of YouTube, which posted 32% ad revenue growth over last year, pointing to advertisers' continued desire for video inventory, the return of brand spending, and notable increases in political ad spending during the quarter," says Perrin.
eMarketer says Google is on track to generate $US98.57 billion in net digital ad revenue in 2020, an increase of 1.8%. That gives it a 29% share of the worldwide digital ad market, down slightly from 2019. Facebook is second with a 23.2%.
In 2020, Google will remain the dominant player in worldwide search ad spending, with a 57.8% share. Google's search revenue will be $81.24 billion in 2020.
Google's worldwide display business will grow slightly to $US17.33 billion, giving it a 9.6% share. That puts Google at number three in the world behind Facebook and Alibaba.
In 2020, Google will capture 29.6% of the worldwide mobile ad market, with $US72.78 billion in net revenue.
The Q3 numbers for Google:
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