YouTube has generated north of A$60 billion in revenue over the past 12 months, according to YouTube CEO Neal Mohan.

Mohan revealed the jaw-dropping figures while speaking at the MoffettNathanson technology conference overnight. He reiterated the company’s focus on its fastest growing advertising earners, such as its TikTok competitor Shorts.

“Monetisation for us, first and foremost, is driven by advertising,” said Mohan.

Despite the impressive figures, Alphabet’s financials showed a revenue decline for the third straight quarter, as the overall digital advertising world stalls. Mohan, however, said YouTube’s digital advertising business was showing signs of “stablisation” as retail and travel rebounds, and begins to pick up its advertising spend.