alphabet, array of Google and Youtubegot a net profit of 18,368 million dollars in the second quarter of 2023, which represents an increase of 14.8% compared to the same period of the previous year. Also, as reported alphabet In a statement, between April and June, the company billed 74,604 million dollars, 7% more than in 2022.
This improvement in results is due to the boost in revenue in most of its businesses, especially the cloud business. Specifically, according to the accounts of the multinational, revenue from its advertising business grew by 3.3% up to 58,143 million dollars. On his side, the search business revenue increased by 4.8%, to 42,628 million dollars, while the youtube billing it grew 4.4%, up to 7,665 million dollars. On the contrary, the sales of the networking business they registered a fall of 4.9%, up to 7,850 million dollars.
As to the turnover of the cloud business of the Mountain View company increased by 28%up to 8,031 million dollars, while the unit dedicated to «other bets» Billed 47.7% more, up to 285 million dollars. In addition, between January and June, Alphabet posted a net profit of 33.419 million dollarswhich represents 3% more than in the same period of the previous year, while revenues reached 144,391 million dollars compared to 137,969 million in the first half of last year, which translates into a growth of 4 .9%
«There is exciting momentum in our products and in the company, leading to good results this quarter“, declared sundar pichai, CEO of Alphabet and Googlehighlighting its continued leadership in artificial intelligence: “Our continued leadership in artificial intelligence and our engineering excellence and innovation are driving the next evolution of search and improving all of our services.«.
For Ruth Poratuntil now the company’s financial director and who to be promoted to president and chief investment officer of Alphabetas the multinational announced during the presentation of the financial report, «our financial results reflect the continued resilience of the search business, with revenue growth accelerating in both search and YouTube, as well as momentum in the Cloud«. «We continue to invest for growth, while prioritizing our efforts to durably reshape our cost base across the business and build capacity to deliver long-term sustainable value.“he added porat.
Porat, who joined the US company in May 2015, will assume both roles from September 2024. «Ruth has worked to ensure financial discipline and shareholder return, and has spearheaded investing to deliver long-term, sustainable value.«, highlighted Pichai. On her side, Porat herself claimed to be «moved» with this new role and with the «Opportunity to network with global leaders to unlock more economic growth through technology and investment“:”I will continue to ensure that our diverse global investment portfolio continues to be supported by great partners to create opportunities around the world.«.