YouTube Ad Revenue Jumps 9% in Third Quarter

YouTube reported a 9% year-over-year increase in ad revenue for the third quarter, reaching $11.2 billion. This result met analyst expectations. The Google Search & other division drove a significant portion of the revenue, growing by 12% year-over-year to $63 billion. Google Cloud experienced an impressive 103% revenue jump, totaling $30.7 billion, with credit given to AI overlays and enterprise AI infrastructure gains.

YouTube Music and Premium achieved a milestone of 150 million global subscribers. Living room viewership contributed to over a third of YouTube's ad revenue. Earnings per share dropped to $2.12, down from $2.87 a year prior, influenced by a $0.55-per-share write-off from equity losses. The earnings report follows Alphabet's increased capital expenditures forecast for AI investments and the lingering investor caution about such expenditures.