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Saturday August 1, 2020

Alphabet revenue is declining despite the growth of YouTube subscriptions and cloud services

Google’s parent umbrella, Fabat, is seeing declining advertising revenue, causing overall revenue to decline for the second consecutive quarter despite YouTube’s growth.

Alphabet company, the parent company of Google, announced its financial results for the second quarter of 2020, with a decrease in total revenue by about 2% compared to the same period in the previous year 2019, where it managed to achieve revenues of $ 38.3 billion, which resulted in achieving a net income of the company by about 6.96 billion American dollar.

With these declining results, Alphabet will continue its decline for the second consecutive quarter this year due to the significant decline in advertising income recently.

Alphabet company attributes the decline in revenue in this quarter due to the Corona pandemic, which caused the advertising partners to spend less on advertising, but the pandemic also contributed to a high number of YouTube views, to achieve the company $ 3.8 billion, in addition to contributing to increasing the contributions paid on YouTube from music services or services. TV subscriptions.

On the same side, Google Cloud services revenue increased due to subscribers seeking to reduce costs and obtain innovative services, according to the company.

The company also witnessed a growth in the Google Play Store, and the app store and games download percentage increased 35% compared to the same period last year.

However, Alphabet may continue to do so during the third fiscal quarter before improving on the fourth with the release of new devices.



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