Google Q2 2023 Earnings Analysis: Revenue & Net Income History

Google, one of the world’s best tech stocks, has achieved remarkable growth over the years, as reflected in its Q2 revenue and net income history.

Over the last 10 years, Google’s Q2 net income has grown by a healthy 475 percent from $3.2 billion to $18.4 billion. That includes 162.8 percent growth since 2020 when the company’s earnings took a hit due to the COVID-19 pandemic.

Part of the company’s success can be attributed to Google’s acquisition of YouTube. Google acquired YouTube for $1.65 Billion back in October 2006.

In Q2 2023 alone, YouTube brought in $7.67 Billion of revenue from ads.

YouTube Shorts has also grown to more than 2 billion monthly active users, up 33.3 percent year-over-year, which should help keep ad revenue growing in the near future.

Let’s take a closer look at how Google performed in Q2 2023, along with how its financial performance has evolved over time during the second quarter of the year.

Google Q2 2023 Earnings Analysis

Google released its Q2 2023 earnings on Tuesday after the market closed.

The company beat revenue estimates by 2.5 percent and cloud revenue estimates by 1.9 percent.

Google also beat free cash flow estimates by a whopping 56% percent while posting a $1.34 EPS, beating out estimates by $0.10.

In Q1 2023, the company appeared to riding the AI wave. In fact, AI mentions during its earnings call last quarter were up a whopping 828 percent.

Here is a terrific earnings snapshot from Brad Freeman, one of the best Twitter accounts to follow for investors.

$GOOGL Earnings Snapshot: pic.twitter.com/Q8uDZxEvER

— Brad Freeman (@StockMarketNerd) July 25, 2023

Google Q2 History: Revenue, Net Income & Growth

Here is how Google’s revenue and net income have changed over time in Q2.

Year	Revenue (in billions)	Revenue Growth (%)	Net Income (in billions)	Net Income Growth (%)
2007	$3.9B	N/A	N/A	N/A
2008	$5.4B	N/A	N/A	N/A
2009	$5.5B	40.54%	$1.5B	N/A
2010	$6.8B	23.64%	$1.8B	20.00%
2011	$9B	32.35%	$2.5B	38.89%
2012	$11.8B	31.11%	$2.8B	12.00%
2013	$13.1B	11.02%	$3.2B	14.29%
2014	$16B	22.14%	$3.4B	6.25%
2015	$17.7B	10.63%	$3.4B	0.00%
2016	$21.5B	21.35%	$4.9B	44.12%
2017	$26B	20.93%	$3.5B	-28.57%
2018	$32.7B	25.77%	$3.2B	-8.57%
2019	$38.9B	18.99%	$9.9B	209.38%
2020	$38.3B	-1.54%	$7B	-29.29%
2021	$61.9B	61.69%	$18.5B	164.29%
2022	$69.69B	12.53%	$16B	-13.51%
2023	$74.6B	7.04%	$18.4B	15.00%