It should come as no surprise that Covid-19 is figuring prominently in the Q1 financial results of every public company. Alphabet announced its figures yesterday, and warned that although its revenues were up 13% to $41.2bn in the first quarter of 2020, in March it saw a “significant slowdown in ad revenues”. YouTube is part of that, although CEO Sundar Pichai told analysts that “YouTube watch-time has also significantly increased” during the pandemic.
Alphabet recently started breaking out YouTube as a business segment, so there are new figures for that too. “YouTube advertising revenues were $4 billion, up 33% year-on-year,” said CFO Ruth Porat. “Significant YouTube revenue growth persisted until late in the first quarter… by the end of March, total YouTube ads revenue growth had decelerated to a year-on-year growth rate in the high-single-digit.”
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