Published , by Ozzie Mejia
Published , by Ozzie Mejia
Google issued its earnings report for Q4 2023 on Tuesday. The company recorded a higher-than-estimated revenue number and part of that has come from YouTube. YouTube ads, specifically, showed substantial growth, bringing in $9.2 billion in revenue for Google.
Google issued its Q4 2023 earnings report on January 30, 2024, which contained a breakdown of its revenue streams. YouTube's $9.2 billion ad revenue is up year-over-year from the $7.96 billion recorded in Q4 2022. This is in addition to the increased earnings brought in from Google Services, which includes the ad-removing YouTube Premium. Google Services recorded $76.3 billion in revenue, up year-over-year from $67.8 reported last year.
"We ended 2023 with very strong fourth quarter financial results, with Q4 consolidated revenues of $86 billion, up 13% year over year," CFO Ruth Porat said in the Google Q4 2023 earnings report. "We remain committed to our work to durably re-engineer our cost base as we invest to support our growth opportunities."
Google (GOOGL) stock finished Tuesday's trading day down $2.05/share and has fallen by more than four percent in after-hours trading.
We're continuing to watch for any further news from Google (GOOGL). We'll be sure to report back with any major stories in the world of tech and gaming as they come in.