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Ruth Porat
YouTube Revenue Up 32 Percent in Summer Quarter
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hollywoodreporter.com
hollywoodreporter.comYouTube earned $5 billion in advertising revenue over the summer as the video streaming giant continues to see a boon amid the coronavirus pandemic.
The Susan Wojcicki-led company's third quarter revenue was up 32 percent compared with the same period a year earlier, helping to drive a 14 percent increase in overall quarterly revenue for parent company Alphabet.
CFO Ruth Porat acknowledged the increase in advertiser spend for Alphabet's Search and YouTube groups in a statement. Alphabet does not break out YouTube's non-advertising revenue, which comes from subscriptions and other entertainment transactions, like movie rentals.
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