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Google Nearly Doubles Profits As Retail Kickstarts Spending

Google almost doubled its profit during the September quarter, as digital advertising increases and the retail world moves online.

Parent company Alphabet reported overnight that revenue rose 41 per cent, to A$86.81 billion, its biggest quarterly revenue haul in 14 years.

It posted a profit of A$28.02 billion, which is close to three times pre-pandemic levels.

Sundar Pichai, Google CEO

Much of Google’s hefty profits came from its ad business, which includes YouTube advertising, Search, and Maps. The sector posted A$70.76 billion in sales, a 43 per cent increase year-on-year.

Most of this growth comes at the cost of Facebook and Snap, whose own advertising revenue has plummeted due to Apple’s new privacy policies that require app users to opt into being tracked.

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