Alphabet makes a record $61.9 billion net income in Q2

Google's parent company is walking away from the slump the pandemic put it in

Alphabet makes a record $61.9 billion net income in Q2

Google’s parent company Alphabet has announced that it had made a net income of $61.9 billion in Q2 of 2021. This is an increase of 62% from that of last year. Last year the net income was affected by the pandemic. This year it seems that the effects of the pandemic are slowly withdrawing. The chief financial officer Ruth Porat had commented that the results are “lapping the impact of COVID on our business.

There has been a consistent increase in Alphabet’s net income in the previous quarters. The income is generated mainly from advertising and search. Other services like Google Cloud are also contributing to it. Google CEO Sundar Pichai has said that the increase in online activity and investments in AI and Google Cloud is the reason for the numbers in this quarter. Google’s publisher partners also earned more and the YouTube creators and partners also got paid more.

Sundar Pichai also commented on the various developments in AI, upcoming Android 12, and conversation technology LaMDA. He also talked about the developments in Google Cloud, Workspace, etc.

The recently added feature YouTube Shorts has set a record with over 15 billion views in a day. The subscriptions on YouTube are also increasing. Pichai also talked about the self-driving vehicle company Waymo which “served thousands of rides without a human driver”. Chief business officer Philipp Schindler talked about YouTube’s reach which helped them to earn more in terms of advertising. 

The Other Bets division of Google has its hardware products. Because of some new product investments, it cost the company more than it earned in this quarter. But the company is optimistic as the investments will pay off shortly. Porat also talked about how the longer trend will be as there is a rise in COVID cases but he is sure that Alphabet will continue being good in terms of revenue.