Google Alphabet's parent company reported its latest finances in the first quarter of 2022 which reported its business line performance.
As a result, YouTube advertising revenue was 6.87 billion US dollars in the first three months of 2022 (January-March), an increase of 14 percent compared to the same period last year in the first quarter of 2021.
The contribution of Youtube ads only reached 6 billion US dollars, dropped dramatically from the previous period. In comparison, YouTube advertising revenue increased 49 percent in the first quarter of 2021.
“The decline in this advertising business is because a number of advertisers in Europe minimize their advertising expenditure on Youtube due to the Russian invasion of Ukraine,” Alphabet Chief Financial Officer said Ruth Porat.
Fortunately, Google Search and Google Cloud's revenue increased in the quarter-I 2022. Google revealed Google Search revenue reached 39.6 billion US dollars, an increase of 24 percent when compared to the same period last year.
Not only that, Google Cloud's revenue was also hoarded by 5.8 billion US dollars, soaring 44 percent from the same period last year.
“Increasing business (search and cloud) continues to help users and business people transform digitally,” Alphabet CEO and Google said, Sundar Pichai in the announcement of financial statements as quoted by Variety.
Alphabet's own income reached 68 billion US dollars in the first quarter of 2022, an increase of 23 percent when compared to the same period last year.
However, the net income (net income) of Alphabet was recorded at 16.4 billion US dollars, decreased 8 percent from the same period last year.