Alphabet crushes Q2 earnings estimates as Google Cloud cuts losses, grows 54% - TechCrunch
The search-and-services company posted revenues of $61.9 billion in the June 30, 2021 quarter, net income of $18.5 billion, and earnings per share of $27.26.
YouTube’s reported revenue of $7 billion is up 84% year over year.Google Cloud reported revenue of $4.6 billion, up 54% year over year.Google Cloud cut its operating loss from $1.4 billion in the year-ago Q2 to a far more modest $591 million deficit in its most recent quarter.
But the collection of trials and errors lost $1.4 billion in the quarter, up from $1.1 billion in the corresponding year-ago period.
The real story, however, is in the epic gains that Alphabet posted in operating income from Q2 2020 to Q2 2021?