Google Ad Revenue Up 3.3% & Bing Ads Revenue Up 8%

Jul 26, 2023 - 7:11 am 2 by
Filed Under Google News

Google Microsoft Earnings Chart

Both Google (Alphabet) [PDF] and Bing (Microsoft) [HTML] reported earnings last night and both showed that their ad revenues grew. Google Ad revenue was up 3.3%, with overall revenue up 7%. Microsoft Advertising revenue was up 8% with overall revenue up 8% as well.

GOOG Earnings

Google seems to be going in the right direction both in terms of overall revenue and ad revenue now. With two quarters ago being down and then last quarter being flat, we are now finally showing growth.

Google was up 7% in overall revenue and 3.3% in advertising revenue year-over-year and Google advertising revenue quarter-over-quarter was up over 6.5%. Google is almost at its all-time high for quarterly revenue, ad revenue and profit being down less than 1% for revenue, down 5% for ad revenue and down 0.2% for profit. I guess cutting a huge number of jobs helped them get back to profit numbers from Q4 2021.

Here is a chart plotting Google's overall revenue, then ad revenue and then profit over the past several quarters:

Google Ad Revenue Chart Q2

Here is the snippet from the earnings report:

Goog Earnings Statement

Sundar Pichai, CEO of Alphabet and Google, said: “There’s exciting momentum across our products and the company, which drove strong results this quarter. Our continued leadership in AI and our excellence in engineering and innovation are driving the next evolution of Search, and improving all our services. With fifteen products that each serve half a billion people, and six that serve over two billion each, we have so many opportunities to deliver on our mission."

Ruth Porat, CFO of Alphabet and Google, said: "Our financial results reflect continued resilience in Search, with an acceleration of revenue growth in both Search and YouTube, as well as momentum in Cloud. We continue investing for growth, while prioritizing our efforts to durably reengineer our cost base company-wide and create capacity to deliver sustainable value for the long term." Note, Ruth Porat it changing roles in the company, no longer CFO but now President and Chief Investment Officer.

MSFT Earnings

Microsoft revenue was up 8%, profit was up 18% and ad revenue was up 8% according to the financial report. As you can see, Microsoft advertising revenue continues to grow slower every quarter, but the growth is still there, just not as fast.

This chart shows the percentage growth quarter to quarter over time, where it was as high as 40% but now down to 8%:

Microsoft Ad Revenue Chart Q3

“Organizations are asking not only how – but how fast – they can apply this next generation of AI to address the biggest opportunities and challenges they face – safely and responsibly,” said Satya Nadella, chairman and chief executive officer of Microsoft. “We remain focused on leading the new AI platform shift, helping customers use the Microsoft Cloud to get the most value out of their digital spend, and driving operating leverage.”

“We delivered a solid close to the fiscal year driven by Microsoft Cloud quarterly revenue of $30.3 billion, up 21% (up 23% in constant currency) year-over-year,” said Amy Hood, executive vice president and chief financial officer of Microsoft.

Forum discussion at Twitter and WebmasterWorld.

 

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