Alphabet makes US$65 billion in revenue for the latest quarter of 2021
The third quarter of 2021 can be said to have been less than kind to tech stocks, not to mention the economy in general. Nevertheless, Alphabet, a company that shares a CEO with Google, has reported earnings that are decidedly healthy and robust. Its 3Q2021 (ending September 30, 2021) revenues came in at US$65.118 billion, or 41% more than for 3Q2020.
Then again, it was left with $21.031 billion in operating income (32% more YoY), or $18.936 billion (+68% YoY) in net income. These results led to a diluted earning per share (EPS) of $27.99 for the quarter, or ~70% more YoY.
Less than surprisingly, about 82% of this revenue came from advertising, through channels such as Google Search or YouTube. Conversely, other areas of the Mountain View behemoth's business, hardware included, barely seemed to be counted in the report. It will be interesting to see if the release of the Pixel 6 line can change that in any way in the final quarter of 2021.