Google search revenue rises 5%, slight increase in total ad revenue

Alphabet Inc., Google’s parent company, reported higher advertising revenue in the second quarter of 2023, year on year. A 2% gain in search revenue was accompanied by an increase in revenue for YouTube ads (4.4%). “Our financial results reflect continued resilience in Search, with an acceleration of revenue growth in both Search and YouTube,” said Alphabet Chief Financial Officer Ruth Porat. Although results surpassed expectations, the single-digit growth percentages suggest that digital ad spend has yet to fully recover to its former glory. Google’s ad revenue increased by $1.85 billion from the previous year, while YouTube ad revenue was $7.67 billion, up from $7.34 billion in 2022.