YouTube has achieved its second-best quarter with $8.92 billion in Q3 2024 revenue, driven significantly by YouTube Music's subscription growth and enhanced AI-powered content recommendations.

Key Performance Highlights:

• Revenue grew 12.1% year-over-year to $8.92 billion
• Total ads and subscription revenue exceeded $50 billion over past four quarters
• Google subscription revenue increased 27.7% to $10.66 billion
• YouTube Music reached 100 million subscribers in March 2024, adding 20 million since 2022

Subscription Success Factors:

• Strong performance from YouTube TV, NFL Sunday Ticket, and YouTube Music
• NFL Sunday Ticket subscribers on YouTube surpassed previous DirecTV numbers
• AI-powered content recommendations using Gemini large language models
• Improved video content understanding and viewer preference matching

Financial Impact:

• Alphabet's overall sales increased 15% to $88.3 billion
• Stock closed at $171.14 per share, up 1.66%
• After-hours trading saw 5.5% increase
• Company stock up 22.6% for the year

Content monetization has also improved, with Content ID claims increasing 25% year-over-year, as rights holders increasingly choose to monetize rather than remove content.

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