Alphabet today announced Q2 2023 earnings with $74.6 billion in revenue. These numbers range from April to June.

Revenue is up 7% from $69.7 billion in Q2 2022, with operating income at $21.84 billion and net income of $18.37 billion for this quarter (versus $16 billion a year ago). For comparison, Alphabet reported $69.8 billion in revenue and $15.05 billion in net income last quarter.

Current Alphabet and Google CFO Ruth Porat is switching to a new President and Chief Investment Officer of Alphabet and Google role, which reports to Sundar Pichai, starting September 1. Porat started in May of 2015 and has been the “company’s longest-serving CFO.”

Porat will remain CFO until Alphabet/Google finds a successor.

In Q2 2023, YouTube ad revenue was $7.67 billion (versus $7.34 billion a year ago), while Cloud reported $8.03 billion (compared to $6.28 billion).

“Google other revenues” — which includes hardware, Play Store, and non-advertising YouTube revenues — reported $8.14 billion, compared to $6.55 billion the same quarter last year.

“Other Bets” continues to lose money. However, it reported $285 million revenue from $193 million in Q2 of 2022. However, it lost $813 million compared to $1.33 billion (recast) in the same quarter of last year.

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