Google just reported its Q1'20 earnings, and the results see strong growth across the company's key billion-dollar segments.
Google recorded stellar Q1 results driven by earnings spikes in key advertisement and search segments. The company pulled in $4.028 billion from YouTube advertisements in the three-month period ending March 31, 2020, up a significant 33% from last year. This jump is likely caused by COVID-19 stay-at-home orders issued across the globe in late March, leading to a massive influx of viewers watching ads placed over videos.
The titan's main breadwinner is of course monetizing searches across its juggernaut search engine. The company raked in a tremendous $24.5 billion in search revenue in Q1, up 8.67% from last year, and total advertisement revenues across YouTube and search tallied up to $33.7 billion, up 10.38% from Q1'19.
In performance metrics, Google total quarterly revenues of $41.159 billion, up 13.26% YoY, driven mainly by strong surges in advertising. Operating income rose 19% to $7.977 billion. Google doesn't keep all of those revenues, though: The giant spent a whopping $18.982 billion on costs of goods and services in Q1, leaving roughly $6.8 billion in net profits for the quarter. Earnings per share were also up to 3.8% to $9.87 in Q1'20.
Last updated: Apr 28, 2020 at 11:59 pm CDT
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