Youtube’s Ad Sales For Q3 Fy23 Surged By 12.5%, Reaching Nearly $8 Billion

Published on: 27 October 2023 Last Updated on: 30 October 2024
Youtube's Ad Sales For Q3 Fy23 Surged By 12.5%

All those pesky YouTube Ads are turning out to be a boon for YouTube. For the end of the quarter on September 30, 2023, tech giant Alphabet, the parent company of Google, reported a total ad revenue of $59.6 billion. The ad revenue touched $44 billion, which was brought in by Google’s search business, which marked a hike of 11.3 %.

YouTube has generated $7.95 billion in ad revenue for Q3 2023. It has been a 12.5% increase from the previous year. The corporation has credited the positive outcome to brand and direct-response advertising. The total ad revenue for the company has grown by 9.5%.

The ad revenue in the previous year had been a far lesser number- a mere 1.9% since 2021.

At an investor call, Sundar Pichai, CEO of Google, reported that daily views for the short-form video platform have increased significantly. YouTube Shorts has increased in views to 70 billion per day. It was 50 billion earlier this year. He even added that the company is planning to introduce enhancements for Shorts, including AI-powered editing tools along with other features.

In his statement, he said, “I’m pleased with our financial results and our product momentum this quarter, with AI-driven innovations across Search, YouTube, Cloud, our Pixel devices and more. We’re continuing to focus on making AI more helpful for everyone; there’s exciting progress and lots more to come.”

Google has registered a total profit of $19.7 billion for the third quarter of 2023. It marks a 46% increase from that of Q3 of 2022. The company’s total revenue has reached $76.7 billion (11%).

Google’s cloud computing services, Google Cloud, have also seen an increase in profit margins due to increased business in AI training tools. It marked a growth of 22% year over year in revenue.

Interestingly, Google Cloud’s performance in Q3 revenue of $8.41 billion fell short of investor expectations. It missed the planned  $8.64 billion. Alphabet is even facing an antitrust trial, where it has been alleged of monopolistic practices in search dominance.

This has led to Alphabet’s shares declining over 6% in after-hours trading, despite YouTube’s otherwise strong performance.

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Medal of Honor History: 9 Amazing Facts You Need to Know

The Medal of Honor: a highly respected title which perfectly describes what it takes to be given this renowned award. Honor. Bravery. Sacrifice. And that's just to name a few. Since its inception in 1862, the Medal of Honor has been awarded to only the most deserving of US Soldiers, Sailors, Airmen, Coast Guards, and Marines. Those who have risked their lives for others, and for the greater good of the country, displaying "gallantry in action" and other soldier-like qualities. The Medal of Honor history is a long and admirable one that gets deeper with every passing ceremony. While most of us have a general idea of what this medal entails, there's always room to learn more. And since it's the most prestigious award given by the US military, it's certainly worth a lesson. Let's see why this award means so much. Medal of Honor History: 9 Awesome Facts : We've compiled a list of things to know about the Medal of Honor and its origins. Want your own Medal of Honor memorabilia? 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