Alphabet Reports $69.7 Billion as Q2 2022 Revenue

Alphabet today announced Q2 2022 earnings with $69.7 billion in revenue. These numbers range from April to June with the fiscal year is well underway.

Revenue is up by 13% from $61.9 billion in Q2 2021, with operating income at $19.45 billion and net income of $16 billion for this quarter (versus $18.5 billion a year ago). For comparison, Alphabet reported $68.01 billion in revenue and $16.44 billion in net income last quarter.

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.

Sundar Pichai, CEO of Google and Alphabet

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.

Ruth Porat, CFO of Google and Alphabet

In Q2 2022, YouTube ad revenue was $7.34 billion (versus $7 billion a year ago), while Cloud reported $6.28 billion (compared to $4.6 billion in Q2 2021).

“Google other revenues” — which includes hardware, Play Store, and non-advertising YouTube revenues — reported $6.55 billion, compared to $6.6 billion the same quarter last year.

“Other Bets” continues to lose money. However, it reported $193 million revenue from $192 million in Q2 of 2021. However, it lost $1.69 billion compared to $1.4 billion in the same quarter of last year.

As usual, Alphabet will hold its Q2 2022 earnings call with investors to further break down numbers from the earnings release.