Google (GOOGL) had itself a bit of a mixed day as far as successes and shortcomings went on its Q1 2022 earnings results today. However, one area where Google didn’t seemingly fail in the slightest was in usership of YouTube. As Google’s accompanying conference call to its earnings results kicked off today, CEO Sundar Pichai put out a further claim that users were watching over 700 million hours of YouTube on TVs alone every single day.
Pichai dropped this detail during the Google Q1 2022 conference call on April 26, 2022. In his opening remarks of the call, Pichai shared that the company was rather pleased with YouTube’s performance throughout the previous quarter. Specifically, he claimed that YouTube was being watched for over 700 million hours each day across the previous quarter. Pichai would go on to further share that more users than ever are creating and sharing projects on YouTube and monthly active users on the platform had also increased heavily.
Google didn’t quite hit it out of the park on all fronts today, falling just slightly short of Wall Street expectations on both revenue and earnings-per-share (EPS) in Q1 2022. Nonetheless, the company has seen a decent amount of growth from year to year. The company was able to claim around 23 percent year-over-year growth in revenue in a comparison between Q1 2021 and Q1 2022. In addition to that, YouTube contributed a healthy amount of revenue to the company’s overall quarterly revenue, accounting for about $6.87 billion of Google’s revenue in Q1 2022. This was also substantially up from the $6.01 billion YouTube brought in during Q1 2021.
During the call, Google stated that it expects the war between Russia and Ukraine to affect its bottom line in Q2 2022 as it currently ceases business in Russia. It remains to be seen just how much of an effect this will have or if it will further cause drops in the company’s stock value as we saw in after-hours trading today, as seen on Yahoo Finance. Stay tuned as we continue to report on quarterly earnings and conference calls from various tech companies as current fiscal quarters come to a close.