YouTube earned over $4 billion during the first quarter of 2020, according to a newly published financial report from parent company Alphabet, Inc.
The impressive revenue benchmark – which totals about $4.038 billion overall – represents a 33 percent uptick from YouTube’s Q1 2019 earnings of approximately $3 billion. And significantly, YouTube’s Q1 2020 income accounted for nearly 10 percent of Google’s earnings, even though the leading search engine also experienced a substantial revenue increase from Q1 2019.
More specifically, Google’s search, advertising, and cloud revenue grew year-over-year and contributed to a noteworthy jump in company-wide income, from about $36 billion to over $41 billion.
Following the earnings report’s release, Alphabet’s stock, traded under the symbol GOOGL, surged by ten or so percent, pushing its per-share price above $1,300.
At the time of this writing, Alphabet/YouTube hadn’t released a more detailed earnings breakdown, including an analysis of the revenue derived from music videos and content, as well as YouTube Music.
Notably, Alphabet and Google Chief Financial Officer (CFO) Ruth Porat indicated that advertising earnings began to lessen as coronavirus-related stay-at-home orders and lockdown measures were instituted: “Performance was strong during the first two months of the quarter, but then in March we experienced a significant slowdown in ad revenues.”