It’s the latest tech company to post revenue gains.

Coming as a surprise to absolutely nobody, Google made money last quarter. Like, a lot. On Tuesday, the search giant said its ad revenue rose 69% year over year (YoY) to $50.44 billion in Q2. The company has benefited from skyrocketing digital advertising spend during the pandemic. Global digital ad spending is expected to grow 20.4% YoY, per eMarketer estimates.

YouTube’s ad business alone pulled in $7 billion in the quarter, up 84% YoY. That’s just shy of Netflix’s Q2 revenue of $7.34 billion.
Rewind: Last week, Twitter reported its total revenue jumped 74% YoY and Snap’s was up 116%. Yesterday, Apple announced its revenue increased 36% during its third quarter, totalling $81.4 billion. Yeah, it’s been a good week in Silicon Valley.

Related, unrelated: Google kicked the can last month, telling advertisers it would hold off until 2023 to kill the incredibly popular third-party cookie. UK regulators have raised antitrust concerns about Google’s funeral for cookies, prompting the search giant to promise it will “provide for greater transparency” as it creates and implements cookie alternatives.—RB

Source: Marketing Brew