Optimistic About YouTube, Google Cloud’s Reaching Combined ARR Of $100 Bn In 2024: Alphabet CEO Pichai

Sundar Pichai, Alphabet’s Chief Executive Officer (CEO) said he is optimistic about the company’s business growth from its subsidiary firms YouTube and Google Cloud. The CEO believes these organisations will reach a combined annual run rate of over USD 100 billion by the end of 2024.

Pichai’s remark came during the company’s earnings conference call. He emphasised Apple’s track record of investing and building successful new businesses.

The company’s popular video platform YouTube reported USD 8.1 billion in ad sales for the first quarter that ended on 31 March, which the company claimed to be one of its highest Q1 revenue registered to date.

YouTube’s revenue was up by 21 per cent YoY from USD 6.7 billion revenue in Q1 of 2023, excluding subscription earnings.

Meanwhile, Google's overall revenue from its subscriptions, platforms and devices business, including YouTube Premium and YouTube TV, stood at USD 8.7 billion during the Q1 2024, a 17.9 per cent up from USD 7.4 billion in Q1 2023.

Alphabet's Chief Business Officer Philipp Schindler emphasised that YouTube’s subscriptions growth has resulted in the higher revenues.