YouTube brings in $7.34 billion in ad revenue in second quarter

YouTube brought in $7.34 billion in advertising revenue during the second financial quarter of 2022, according to a new earnings report by parent company Alphabet.
The report showed revenue had increased by 4%, up from just over $7 billion in the same period of 2021.
Alphabet reported $69.68 billion in revenue for the second quarter, up 13% from $61.8 billion in the previous year.
The amount was just short of an analyst estimate of $69.9 billion for Q2.
Sundar Pichai, chief executive of Alphabet and Google, said: "In the second quarter our performance was driven by Search and Cloud.
"The investments we've made over the years in AI and computing are helping to make our services particularly valuable for consumers, and highly effective for businesses of all sizes.
"As we sharpen our focus, we'll continue to invest responsibly in deep computer science for the long-term."
Ruth Porat, chief financial officer of Alphabet and Google, said: "Our consistent investments to support long-term growth are reflected in our solid performance in the second quarter, with revenues of $69.7 billion in the quarter, up 13% versus last year or 16% on a constant currency basis.
"We are focused on responsible capital allocation in support of our growth opportunities."