Alphabet, the company owned by Google, released its report on second-quarter 2021 results, which ended in June.
The tech giant’s revenue reached $61.88 billion in the quarter, beating Wall Street’s expectations of $56.23 billion.
This turnover increased by 62% compared to the same quarter of the previous year. In particular, Google’s advertising revenue grew 69% from the second quarter of 2020.
In addition, the company’s net revenue was $18 billion, more than double that of the previous year ($7 billion).
Sundar Pichai, CEO of Google and Alphabet, commented on the staggering numbers, saying:
In the second quarter, online activity increased 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 help us dramatically improve the digital experience for everyone.
The company’s shares rose 2% after the close of business, and if all of those gains continue, Google’s market cap will hit $2,000 billion.
In addition to advertising and stock sales, Alphabet’s cloud computing business has also seen significant growth.
Cloud computing revenue grew 54% year-over-year.