Google’s parent firm, Alphabet, disclosed Monday that YouTube earned $15.2 billion in 2019, the very first time that the company has shown financial facts regarding the movie platform.
Those figures do not include revenue from different sources, like subscriptions to YouTube TV or even YouTube Premium.
Monday’s earnings report also provided a historical view of YouTube’s advertisement development, which has almost doubled from $8.15 billion in 2017.
Ruth Porat, the chief financial officer of Alphabet, according to a conference call with analysts following the earnings release the new details were supposed to supply a more complete explore the organization’s different lines of business.
“To offer additional insight into our organization and the opportunities ahead, we are currently reflecting our earnings on a more granular basis, such as for research, YouTube advertisements, and Cloud,” Porat said.
Details regarding YouTube’s company was a closely guarded secret. Google purchased the movie platform in 2006, creating it on the years to a dominant player in the online video marketplace.
Alphabet’s report also said that Google’s cloud firm had $8.9 billion in earnings for 2019 and revenue from search and other advertisements companies hit $98.1 billion.
That is when Google co-founders Larry Page and Sergey Brin announced they’d be stepping right back in their functions as CEO and president, respectively.
The higher transparency to the organization’s earnings comes as Google and other Silicon Valley firms face increasing antitrust scrutiny from regulators. Google specifically has faced questions about its advertising business and its dominance in the area.
Alphabet’s total annual revenue of $46.1 billion arrived in marginally below analyst expectations. The organization’s share price dropped more than 4% in after-hours trading on Monday afternoon.