Alphabet-owned YouTube on Tuesday reported stellar Q3 performance as ad revenue climbs 43% to reach $7.2 billion.
This marks a new quarterly record for the video platform, nearly rivaling Netflix’s Q3 revenue of $7.4 billion. The rest of Alphabet reported $65 billion in revenue, up 41% and an earnings per share of $27.99. Net income came in at almost $19 billion, up 68% year over year. Both EPS and revenue beat analyst expectations for Q3.
YouTube’s ad revenue does not include subscription revenue — which is presumably also in the billions after the app hit 50 million subscribers for ad-free content and music.