The majority of the upside for the firm was driven by the core advertising businesses as the search giant’s advertising units pulled in $46.2 billion, up nearly 22% from a year earlier
Search improved to 17% y/y growth (compared to 6% last quarter)
YouTube accelerated to 46% y/y growth (compared to 32% growth last quarter).
That combines for 22% core advertising growth, which is actually now inline/above pre-covid run rates.
Impact from Covid was steep and sharp with Search bottoming down 10% in Q2, but the recovery has been just as steep given the the recovery in consumer spending, advertiser confidence, and acceleration of digital transformation across all industries driving more commerce activity taking place partially or all online.
https://www.wsj.com/articles/google-alphabet-googl-4q-earnings-report-2020-11612236441
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