Alphabet announces 2Q financial results

Jul 31, 2020

Business
Alphabet announces 2Q financial results

San Francisco (USA), July 31: Alphabet Inc., Google's parent company, on Thursday reported second-quarter revenue of 38.30 billion U.S. dollars, down 2 percent from the same period last year.
The company announced financial results for the quarter ended June 30, 2020, with net income of 6.96 billion dollars or 10.13 dollars earnings per diluted share, compared with 9.95 billion dollars or 14.21 dollars earnings per diluted share in the same period of 2019.
"We're working to help people, businesses and communities in these uncertain times," said Sundar Pichai, chief executive officer of Google and Alphabet.
"As people increasingly turn to online services, our platforms...are helping our partners provide important services and support their businesses," he added.
Among the entire quarterly revenue of 38.30 billion dollars, a total of 25.13 billion dollars came from Google Search and YouTube advertising, according to the company's financial report.
The quarterly report also showed that Google Cloud sales grew 43 percent to 3.01 billion dollars from 2.10 billion dollars in the same period of 2019.
"In the second quarter our total revenues were...driven by gradual improvement in our ads business and strong growth in Google Cloud and Other Revenues," said Ruth Porat, chief financial officer of Alphabet and Google.
Source: Xinhua News Agency