YouTube‘s promoting income rebounded within the fourth quarter of 2023 — hovering 15.5% — in a robust resurgence of digital advert spending on the video platform.

This autumn advert income for YouTube got here in at $9.20 billion, roughly according to Wall Avenue expectations, persevering with the momentum from the third quarter of final 12 months. By comparability, YouTube advert gross sales fell nearly 8% in This autumn of 2022. Word that Alphabet, mum or dad of Google and YouTube, doesn’t escape subscription income from YouTube TV or different premium companies.

General, Alphabet beat Wall Avenue expectations. The web large posted This autumn income of $86.31 billion (up 13.5%) and earnings per share of $1.64. Analysts on common anticipated $85.33 billion in income and EPS of $1.59, in accordance with monetary information supplier LSEG.

The outcomes come as Alphabet, after main layoffs final 12 months, continues to make focused job cuts throughout the corporate. That included YouTube’s pink-slipping about 100 staff earlier this month, because the division additionally restructured a few of its operations.

Sundar Pichai, CEO of Alphabet and Google, stated in ready remarks, “We’re happy with the continued power in Search and the rising contribution from YouTube and Cloud. Every of those is already benefiting from our AI investments and innovation. As we enter the Gemini period, the most effective is but to come back.”

YouTube Shorts, the short-form video format designed to compete with TikTok, has greater than 2 billion month-to-month logged-in customers. On common, greater than 70 billion YouTube Shorts have been seen day by day as of the third quarter, in accordance with the corporate.

Alphabet ended 2023 with 182,502 staff, down 4.1% 12 months over 12 months. The corporate stated it took $2.1 billion in worker severance and associated costs for 2023.