Wednesday, October 27, 2021

g-f(2)607 THE BIG PICTURE OF THE DIGITAL AGE (10/27/2021), WSJ, Google Nearly Doubles Profit Behind Red-Hot Ad Market

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"g-f" fishing of golden knowledge (GK) of the fabulous treasure of the digital ageDigital Transformation, Digital-ad market (10/27/2021)  g-f(2)426 

Lessons learned, WSJ 

  • Alphabet Inc.’s Google tallied its highest sales growth in more than a decade and nearly doubled its profit in the third quarter, as smaller businesses poured money into digital ads aimed at customers whose purchases have shifted online.
  • Alphabet said Tuesday that revenue rose 41% to $65.12 billion, its largest in 14 years. It posted a profit of $21.03 billion, nearly three times what it reported before the pandemic.
  • The strong results underscored how the pandemic has turbocharged the company’s core advertising business. With retail foot traffic dwindling, marketers turned to Google to promote their products, delivering in a single year the kind of quarterly sales growth that the search giant typically records over a two-year span.

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                      Lessons learned, WSJ

                      • The red-hot digital-ad market has accelerated this year, with global spending on track to grow 26%, up from earlier projections of 15%, according to GroupM, a media-buying firm. Much of that windfall has flowed to Google, which has a dominant share of world-wide internet searches, digital navigation and online video viewership.
                      • The company’s ad business, led by Search, Maps and YouTube, posted $53.13 billion in sales from advertising, a 43% increase.
                      • Google said its profit for the quarter benefited from an accounting change related to depreciation of its servers and network equipment, which increased net income $460 million.

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                      Lessons learned, WSJ

                      • Google’s cloud-computing business has shown the most promise. After investing heavily over the past few years, the division has begun to gain market share behind leaders Inc. and Microsoft Corp. , which account for 41% and 20% of the market, respectively.
                      • Google, which lags behind with 6% share, reported that cloud sales rose 45% to $4.99 billion in the period. The sales revenue fell short of Wall Street projections for $5.19 billion in revenue, and the company reported an operating loss of $644 million for the unit, which analysts said contributed to investors selling shares in after hours trading.
                      • The company said it expects growth in the next quarter to come from its release of Fitbit products and Pixel phones, as well as subscriptions to YouTube.

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                      • Category 2: The Big Picture of the Digital Age
                      • [genioux fact deduced or extracted from WSJ]
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