Google (GOOGL) CEO Says YouTube Viewers Watch Over 700 Million Hours A Day
Google (GOOGL) had a bit of a mixed day when it came to the successes and shortcomings of its Q1 2022 results today. However, one area where Google apparently didn’t fail at all was using YouTube. As Google’s conference call accompanying its results kicked off today, CEO Sundar Pichai claimed that users watch more than 700 million hours of YouTube on TVs alone every day.
Pichai dropped that detail during the Google Q1 2022 conference call on April 26, 2022. In his opening remarks for the call, Pichai shared that the company was quite happy with YouTube’s performance in the prior quarter. Specifically, he claimed that YouTube was watched over 700 million hours every day in the previous quarter. Pichai would go on to share that more users than ever are creating and sharing projects on YouTube and monthly active users on the platform have also increased sharply.
Google didn’t quite knock it out of the park on all fronts today, falling slightly below Wall Street expectations for revenue and earnings per share (EPS) in the first quarter of 2022. Nonetheless, the company recorded a decent amount of year-over-year growth. The company was able to claim around 23% year-over-year revenue growth in a comparison between Q1 2021 and Q1 2022. On top of that, YouTube contributed a good amount of revenue to the company’s overall quarterly revenue, accounting for approximately $6.87. billion in revenue from Google in the first quarter of 2022. This also represents a substantial increase from the $6.01 billion brought in by YouTube in the first quarter of 2021.
During the call, Google said it expects the Russia-Ukraine war to affect its results in the second quarter of 2022, as it is currently ceasing operations in Russia. It remains to be seen how much of an effect this will have or if it will lead to further declines in the value of the company’s shares as we saw in after-hours trading today as seen on Yahoo finance. Stay tuned as we continue to report quarterly results and conference calls from various technology companies at the end of the current fiscal quarters.