Alphabet's Great 3rd Quarter

Alphabet's great 3rd quarter

The Main Point

Alphabet’s great 3rd quarter. Alphabet hasn’t been doing its best this year. If you didn’t know, Alphabet is the company that owns Google, Youtube and many other companies. So far this year, they have not been making as much money as normal due to advertisers pulling back on spending because of Covid. But, in the 3rd quarter, Alphabet has really bounced back, increasing its profits from the same time last year.

Alphabet may not be a very well known company, but they’re one of the biggest companies in the world. They own many companies, such as Google and Youtube. This year has not been one of their best years, though. Due to advertisers spending less on ads because of covid, Alphabet has not made as much money as they would in a normal year. In the 3rd quarter, though, advertisements have begun to make a comeback.  This has caused Alphabet to actually increase their profits from the same time last year. Google and Youtube have been doing very well now, but that isn’t all of their problems. They have also been sued by the government, so we will have to see how that turns out.

Youtube and Alphabet's Great 3rd Quarter

Alphabet's 3rd quarter report

Compared to the rest of the year, Alphabet had a great 3rd quarter. They made 14% more in the third quarter this year than last year. The majority of this comes from Youtube and Google. Youtube made over $5 billion in advertising, and that’s just amazing. This is partially due to increased watch time, because people aren’t leaving their houses as much. Youtube music has also grown, with over 30 million subscribers. And, not only has music grown, but so has Youtube TV, which now has over 3 million subscribers. That is amazing, because the price of Youtube TV just went up to $64.99 a month, and it used to be $50. Google also made over $37.1 billion from ads this year in the third quarter. In total, Google made over $46.2 dollars this quarter. The playstore, hardware and cloud services from Google made $5.4 billion, too. Overall, this is far better than last quarter, which was the first time ever that Google’s revenue had declined from the same time last year.

Google's great 3rd Quarter

The lawsuit

Google was also recently sued by the Department of Justice. They claim that Google has a monopoly on the search and advertising markets.  Sundar Pichai, chief executive officer of Alphabet, says that the company is prepared for this lawsuit, but we’ll have to wait and see. Lately, the government has been investigating many tech giants, including Google. The other companies included were AmazonFacebook and Apple. All of them were accused of having monopolies on specific markets. Google is trying to protect itself against this accusal. According to Pichai, “We believe that our products are creating significant benefits and we’ll confidently make our case. Our company’s focus remains on continuing our work to build a search product that people love and value.”

The Main Point

Alphabet’s great 3rd quarter. Alphabet hasn’t been doing its best this year. If you didn’t know, Alphabet is the company that owns Google, Youtube and many other companies. So far this year, they have not been making as much money as normal due to advertisers pulling back on spending because of Covid. But, in the 3rd quarter, Alphabet has really bounced back, increasing its profits from the same time last year.

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