Google’s parent Alphabet Inc. continues to lead in the worldwide market for digital ads with earnings doing better than expected for their Q1 2020 reporting Tuesday afternoon.
Surpassing analysts’ estimates, the California-based tech giant reported $9.87 earnings-per-share on revenues of nearly $41.15 billion. Analysts estimated $40.33 billion, beating sales expectations amidst the coronavirus pandemic.
With the latest Google earnings, it is clear that digital channels are continuing to be a front-runner for companies looking to target more qualified audiences. Although Google faces Facebook and Amazon as competitors for digital advertising budgets, the leading search engine stays competitive with YouTube and Cloud despite the global slowdown amidst the shutdown as a result of the global coronavirus pandemic.
With many users’ social distancing and remaining on stay at home orders during the coronavirus pandemic, there has been an increase in YouTube users along with ads, including presidential campaign ads. As businesses adjust to new ways of working, Google Cloud has become critical in the process, helping workers stay connected while working remotely.
“The pandemic will forever change everyone’s marketing mindset and consumer engagement. People will now start to move to digital work in education and medicine,” said Sundar Pichai, Google CEO.
In 2019, YouTube’s ad revenue grew 36%, representing 10% of Google parent Alphabet’s overall business. Google continues adding YouTube to their focus of digital advertising as another tool to reach an even wider audience.
“Increasing your digital presence with video advertisements is a great way to stay ahead of competitors and gain additional brand impressions in front of your target audience, especially with users spending more time watching YouTube videos during quarantine,” said Zach Hoffman, CEO and Founder of Exults.
Exults Marketing takes a look at the impact Google has made on the shift of technology and marketing as it continues to evolve media consumption. The reported fruition of the search engine giant Google comes as no surprise to Exults Internet Marketing Agency, an agency specializing in digital marketing, including Google Ads’ marketing platform.
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