Alphabet reports Q3 2022 revenue of $69.1 billion

Alphabet today announced Q3 2022 earnings with $69.1 billion in revenue. These numbers range from July to September with the fiscal year almost coming to a close.

• Pixel 6a led to ‘solid growth in hardware revenues’ for Google

Revenue is up 6% from $65.1 billion in Q3 2021, with operating income at $17.14 billion and net income of $13.91 billion for this quarter (versus $18.94 billion a year ago). For comparison, Alphabet reported $69.7 billion in revenue and $16 billion in net income last quarter.

We’re sharpening our focus on a clear set of product and business priorities. Product announcements we’ve made in just the past month alone have shown that very clearly, including significant improvements to both Search and Cloud, powered by AI, and new ways to monetize YouTube Shorts. We are focused on both investing responsibly for the long term and being responsive to the economic environment

Sundar Pichai, CEO of Google and Alphabet

Our third quarter revenues were $69.1 billion, up 6% versus last year or up 11% on a constant currency basis. Financial results for the third quarter reflect healthy fundamental growth in Search and momentum in Cloud, while affected by foreign exchange. We’re working to realign resources to fuel our highest growth priorities.

Ruth Porat, CFO of Google and Alphabet

In Q3 2022, YouTube ad revenue was $7.07 billion (versus $7.2 billion a year ago), while Cloud reported $6.87 billion (compared to $4.99 billion in Q3 2021).

“Google other revenues” — which includes hardware, Play Store, and non-advertising YouTube revenues — reported $6.9 billion, compared to $6.75 billion the same quarter last year.

“Other Bets” continues to lose money. However, it reported $209 million revenue from $182 million in Q3 of 2021. However, it lost $1.61 billion compared to $1.29 billion in the same quarter of last year.

As usual, Alphabet will hold its Q3 2022 earnings call with investors to further break down numbers from the earnings release. You can follow along via the livestream below and we’ll have coverage of any notable tidbits the company reveals.