July is over, and with summer now under way, most companies have begun to disclose their earnings for the first half of the year. With this they can confirm how well the financial development of the company has been, within the first two quarters. It also serves to verify the accuracy of the growth and performance forecasts made last year.
parent company of Google and one of the largest technology companies in the world, announced on July 27 its performance in the second quarter of the year, in which it has shown considerable growth in contrast to the same period of the previous year.
Google exceeds its forecasts with an increase in online activity
In this second quarter of the year, the search and digital services company presented a growth of 62% in its income compared to 2020managing to invoice in this way a total of 61.9 billion dollars, approximately 51,200 million euros. As for its net profits, Google achieved 18,525 million dollars, about 15,600 million euros, which represents a growth of over 166% compared to the same period in 2020.
Likewise, globally throughout the first semester, the technological giant presented income of up to 117,194 million dollars, equivalent to about 98,690 million euros. This equates to 47% growth compared to the first six months of 2020. As we can see this semester, and more specifically its second quarter, offer a strong growth trend for the company. Which has been influenced by a growing increase in the consumption activity of users on the Internet, as expressed by Sundar PichaiCEO of Google and Alphabet.
“In the second quarter, there was a rising tide of online activity in many parts of the world, and we are proud that our services have helped so many consumers and businesses. Our long-term investments in AI and Google Cloud are helping us drive significant improvements in the digital experience for everyone around the world.”
Advertising has generated more than 80% of Google’s revenue
Google maintains an undisputed dominance over the Internet advertising business, making it its main source of income. According to the information published by the company, advertising revenue reached 50,444 million dollarswhich would be 42,470 million euros, which represents a total of 81.5% of the profits obtained in this second quarter.
Within these ad revenues, around 35,845 million dollars, about 30,186 million euros, are equivalent to Google search. Also counting on an item of 7,002 million dollars, about 5,800 million euros, from the advertisements of its video platform, YouTube.
Likewise, its cloud service platform Google Cloud has continued to growreaching a turnover of 4,628 million dollars, about 3,897 million dollars, which means a increase of more than 1,000 million compared to the same fiscal year 2020. On the other hand, these good results have raised a good trend for the technology giant, even increasing its value on the stock market by 5%.
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