Erik Gruenwedel
April 29, 2020
Google-owned YouTube continues to reign as the Internet’s top over-the-top video platform, generating more than $4 billion in first-quarter (ended March 31) ad-revenue. The tally topped the previous-year period that generated more than $3 billion.
YouTube revenue does not include the brand’s $50 monthly online TV platform, YouTube TV.
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Overall, Google parent Alphabet reported revenue of more than $41.15 billion, compared with revenue of $36.33 billion in the previous-year period.
Regardless, CFO Ruth Porat cautioned that while the company’s performance was strong during the first two months of the quarter, March experienced a significant slowdown in ad revenue due in large part to COVID-19 pandemic.
“We are sharpening our focus on executing more efficiently, while continuing to invest in our long-term opportunities,” Porat said in an April 28 statement.
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