Alphabet reports $65B in revenue amid Google's ongoing legal battles

Google's revenue grew only slightly from last quarter.

What you need to know

• Alphabet releases its Q3 2021 financial earnings report.
• The company made more than $65 billion in revenue, up 41% from the same quarter last year.
• Overall revenues grew only slightly from Q2, which brought in $61 billion in revenue.

Alphabet, Google's parent company, announced its Q3 2021 financial earnings on Tuesday, reporting revenue of more than $65 billion.

That represents a growth of 41% compared to the same quarter last year, which raked in just over $46 billion. As usual, those numbers were driven by ads, primarily with Google Search, while YouTube contributed more than $7 billion.

Compared to last quarter, growth was fairly stagnant, with much of Google's divisions growing in revenue only slightly. iOS 14's privacy shanges were thought to have a big impact on Googe's revenue for services, although apparently it's only had a "modest impact" on YouTUbe's revenues. Still, it's impressive that Google continues to increase its revenue, which has just recorded its fifth record-breaking quarter in a row, despite its ongoing legal troubles.

Notably, Google Cloud continues to lose money, though it raked in more revenue than last year. However, Google continues to have faith in where the business is trending, thanks to its growth in partners.

Google is facing a bevy of antitrust lawsuits over its anticompetitive practices as they relate to its grip on app distribution on the best Android phones, as well as its dominance in the digital ads space.

The company recently announced Play Store fee changes that will see lower service fees for many developers, although the company was mum on how that would affect its revenues going forward.

Of course, CEO Sundar Pichai took a moment to call out its latest Google Pixel 6, which the company continues to ramp up marketing for. Google lumps Pixel and hardware sales under "other" on its reports, so it's hard to say where sales are at. Still, it'll be interesting to see how revenue grows during Q4, especially given the positive reception the devices are getting.

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